Swiss National Bank Purchases 32,480 Shares of Flutter Entertainment PLC $FLUT

Swiss National Bank grew its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 7.1% in the 1st quarter, HoldingsChannel reports. The firm owned 490,422 shares of the company’s stock after acquiring an additional 32,480 shares during the quarter. Swiss National Bank’s holdings in Flutter Entertainment were worth $49,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment in the second quarter worth approximately $405,000. Creative Planning purchased a new stake in Flutter Entertainment in the second quarter worth approximately $296,000. Northwestern Mutual Wealth Management Co. grew its position in Flutter Entertainment by 246.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after acquiring an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after acquiring an additional 106 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FLUT shares. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, July 8th. Oppenheimer reduced their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. UBS Group decreased their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Wedbush reissued an “outperform” rating and issued a $138.00 price target on shares of Flutter Entertainment in a research note on Friday, July 17th. Finally, Moffett Nathanson lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target for the company. in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director John A. Bryant acquired 1,950 shares of the company’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the acquisition, the director owned 9,235 shares in the company, valued at $949,912.10. This represents a 26.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $98.13, for a total value of $302,632.92. Following the completion of the sale, the chief executive officer owned 74,326 shares in the company, valued at approximately $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $99.94 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment PLC has a one year low of $91.52 and a one year high of $313.68. The business’s 50 day simple moving average is $103.11 and its two-hundred day simple moving average is $121.93. The stock has a market capitalization of $17.39 billion, a P/E ratio of -46.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 earnings per share. Analysts forecast that Flutter Entertainment PLC will post 4.83 EPS for the current year.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.