Delta Global Management LP Makes New $1.46 Million Investment in Flutter Entertainment PLC $FLUT

Delta Global Management LP purchased a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,326 shares of the company’s stock, valued at approximately $1,461,000.

A number of other hedge funds also recently made changes to their positions in FLUT. Zions Bancorporation National Association UT lifted its stake in Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. EFG International AG purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc grew its stake in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after acquiring an additional 133 shares during the last quarter.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $101.47 on Monday. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of -47.42, a PEG ratio of 1.39 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The business has a 50-day simple moving average of $103.43 and a 200 day simple moving average of $120.26. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. On average, research analysts forecast that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

Insider Transactions at Flutter Entertainment

In related news, CEO Daniel Mark Taylor purchased 1,611 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $94.29 per share, with a total value of $151,901.19. Following the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. This represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Don H. Liu acquired 1,459 shares of the stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the transaction, the insider owned 22,265 shares in the company, valued at approximately $2,288,396.70. This represents a 7.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 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 corporate insiders.

Analyst Ratings Changes

FLUT has been the subject of several recent research reports. Susquehanna reduced their target price on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. Truist Financial lowered their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research report on Friday, April 24th. Citizens Jmp cut their price target on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a report on Wednesday, July 8th. Finally, Stifel Nicolaus decreased their price objective on Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday. 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.26.

Flutter Entertainment 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.