Ameriprise Financial Inc. Increases Stake in Flutter Entertainment plc (NYSE:FLUT)

Ameriprise Financial Inc. raised its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 1,159.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 228,447 shares of the company's stock after buying an additional 210,310 shares during the period. Ameriprise Financial Inc. owned about 0.13% of Flutter Entertainment worth $59,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altimeter Capital Management LP acquired a new position in shares of Flutter Entertainment in the fourth quarter worth approximately $98,292,000. Third Point LLC raised its holdings in Flutter Entertainment by 70.6% during the 4th quarter. Third Point LLC now owns 870,000 shares of the company's stock worth $224,852,000 after purchasing an additional 360,000 shares during the last quarter. Voleon Capital Management LP acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $1,769,000. Soros Fund Management LLC boosted its stake in shares of Flutter Entertainment by 31.5% in the 4th quarter. Soros Fund Management LLC now owns 150,833 shares of the company's stock valued at $38,983,000 after purchasing an additional 36,107 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Flutter Entertainment by 206.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 100,668 shares of the company's stock worth $26,018,000 after buying an additional 67,800 shares during the period.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This trade represents a 54.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 2,315 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 73,947 shares in the company, valued at approximately $18,006,094.50. This represents a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,156 shares of company stock valued at $10,926,922 in the last three months.

Analyst Ratings Changes

Several research firms recently issued reports on FLUT. UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, March 6th. BTIG Research dropped their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company raised their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Finally, Citizens Jmp reduced their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of "Buy" and a consensus price target of $306.28.

Flutter Entertainment Stock Up 2.9%

Shares of NYSE:FLUT traded up $6.90 during midday trading on Wednesday, hitting $248.74. 1,373,211 shares of the company's stock were exchanged, compared to its average volume of 1,863,998. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50 day moving average price of $233.25 and a 200-day moving average price of $253.81. The company has a market cap of $43.95 billion and a PE ratio of 86.07. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the previous year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

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.