Flutter Entertainment PLC (NYSE:FLUT) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 90.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 183 shares of the company’s stock after purchasing an additional 87 shares during the quarter. Farther Finance Advisors LLC’s holdings in Flutter Entertainment were worth $41,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after buying an additional 56 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after buying an additional 60 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after buying an additional 83 shares in the last quarter. State of Wyoming boosted its position in shares of Flutter Entertainment by 19.1% in the 4th quarter. State of Wyoming now owns 536 shares of the company’s stock worth $139,000 after buying an additional 86 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Flutter Entertainment in the 4th quarter valued at about $25,000.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $275.72 on Wednesday. The stock has a market cap of $48.72 billion and a P/E ratio of 95.40. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average of $247.83 and a 200-day moving average of $253.21. Flutter Entertainment PLC has a 52 week low of $175.59 and a 52 week high of $299.73.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. On average, analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on FLUT shares. Macquarie restated an “outperform” rating and issued a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Truist Financial reduced their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. JMP Securities restated a “market outperform” rating and issued a $301.00 target price on shares of Flutter Entertainment in a report on Thursday, June 12th. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Benchmark restated a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $303.79.

Insider Activity

In related news, Director Nancy Cruickshank sold 281 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $69,044.51. Following the transaction, the director now directly owns 1,797 shares in the company, valued at $441,540.87. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 2,315 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer now owns 73,947 shares in the company, valued at $18,006,094.50. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,770 shares of company stock worth $1,894,934.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.