75,661 Shares in Flutter Entertainment plc (NYSE:FLUT) Bought by Point72 Europe London LLP

Point72 Europe London LLP purchased a new position in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,661 shares of the company's stock, valued at approximately $19,555,000. Flutter Entertainment accounts for approximately 1.1% of Point72 Europe London LLP's investment portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLUT. Capital World Investors grew its stake in shares of Flutter Entertainment by 11.9% in the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. boosted its holdings in Flutter Entertainment by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock worth $2,479,812,000 after acquiring an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $2,146,227,000. Norges Bank bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $946,681,000. Finally, FMR LLC increased its holdings in shares of Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after acquiring an additional 25,422 shares in the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $248.74 on Thursday. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The firm has a 50-day moving average of $233.26 and a 200 day moving average of $253.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $43.95 billion and a P/E ratio of 86.07.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. On average, research analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Buying and Selling at Flutter Entertainment

In related news, COO James Philip Bishop sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the sale, the chief operating officer now directly owns 4,712 shares in the company, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,156 shares of company stock valued at $10,926,922.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FLUT shares. Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Truist Financial decreased their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Wells Fargo & Company lifted their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, BTIG Research decreased their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $306.28.

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.

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