140,000 Shares in Flutter Entertainment plc (NYSE:FLUT) Bought by Blackstone Inc.

Blackstone Inc. acquired a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 140,000 shares of the company's stock, valued at approximately $36,183,000. Blackstone Inc. owned 0.08% of Flutter Entertainment at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new stake in Flutter Entertainment in the 4th quarter valued at $505,000. Benson Investment Management Company Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $5,116,000. SeaCrest Wealth Management LLC acquired a new position in shares of Flutter Entertainment during the 4th quarter worth about $390,000. Park Avenue Securities LLC purchased a new position in Flutter Entertainment in the 4th quarter valued at about $669,000. Finally, Ritholtz Wealth Management boosted its holdings in Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock worth $446,000 after buying an additional 59 shares during the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of research analyst reports. UBS Group lifted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Macquarie reaffirmed an "outperform" rating and set a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday. Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $310.00 price objective on shares of Flutter Entertainment in a research note on Thursday. Finally, BTIG Research decreased their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of "Buy" and an average price target of $306.28.

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction 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 transaction, the director now directly owns 21,148 shares of the company's stock, valued at $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 2.7 %

Shares of FLUT traded down $6.43 during trading on Friday, reaching $234.76. 1,691,383 shares of the company traded hands, compared to its average volume of 1,862,157. The stock has a 50-day simple moving average of $234.64 and a 200-day simple moving average of $253.37. The stock has a market cap of $41.49 billion and a PE ratio of 1,067.09. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

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

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.