M&T Bank Corp Has $416,000 Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

M&T Bank Corp cut its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,877 shares of the company’s stock after selling 80 shares during the period. M&T Bank Corp’s holdings in Flutter Entertainment were worth $416,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its position in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its position in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after buying an additional 60 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $33,000.

Insider Buying and Selling

In other news, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $102,706.78. Following the transaction, the director owned 5,956 shares in the company, valued at approximately $1,463,448.76. This trade represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the transaction, the chief operating officer owned 4,712 shares in the company, valued at approximately $1,145,958.40. The trade was a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,770 shares of company stock worth $1,894,934.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $296.51 on Thursday. The stock’s fifty day moving average price is $263.39 and its two-hundred day moving average price is $255.04. Flutter Entertainment PLC has a one year low of $175.59 and a one year high of $299.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $52.39 billion and a PE ratio of 102.60.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLUT shares. Bank of America raised their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a “buy” rating and a $380.00 price objective for the company. Truist Financial set a $340.00 price target on Flutter Entertainment and gave the stock a “buy” rating in a report on Wednesday. JMP Securities lifted their price target on Flutter Entertainment from $301.00 to $323.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Hsbc Global Res raised Flutter Entertainment to a “hold” rating in a report on Wednesday, June 18th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $315.81.

About Flutter Entertainment

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.