Blackstone Inc. Invests $36.18 Million in Flutter Entertainment plc (NYSE:FLUT)

Blackstone Inc. bought a new position in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 140,000 shares of the company's stock, valued at approximately $36,183,000. Blackstone Inc. owned about 0.08% of Flutter Entertainment as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BW Gestao de Investimentos Ltda. bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $3,910,000. Benjamin Edwards Inc. lifted its stake in Flutter Entertainment by 43.7% in the 4th quarter. Benjamin Edwards Inc. now owns 1,693 shares of the company's stock worth $438,000 after purchasing an additional 515 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Flutter Entertainment by 24.0% during the 4th quarter. BNP Paribas Financial Markets now owns 672,640 shares of the company's stock valued at $173,844,000 after purchasing an additional 130,313 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Flutter Entertainment by 1,159.6% in the fourth quarter. Ameriprise Financial Inc. now owns 228,447 shares of the company's stock worth $59,042,000 after purchasing an additional 210,310 shares during the period. Finally, Altimeter Capital Management LP bought a new position in shares of Flutter Entertainment in the fourth quarter worth $98,292,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FLUT shares. Benchmark restated a "buy" rating and issued a $300.00 target price on shares of Flutter Entertainment in a research note on Monday, April 21st. Barclays decreased their price objective on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research report on Thursday. JMP Securities dropped their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $310.00 target price on shares of Flutter Entertainment in a research report on Thursday. Finally, Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $306.28.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Stock Down 2.7 %

Shares of FLUT stock traded down $6.43 during midday trading on Friday, reaching $234.76. 1,691,383 shares of the stock were exchanged, compared to its average volume of 1,864,072. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The firm has a market cap of $41.48 billion and a PE ratio of 81.23. The company's 50 day moving average is $234.03 and its two-hundred day moving average is $253.56. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 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 firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the prior year, the business posted $0.10 EPS. The business's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Flutter Entertainment plc will post 4.17 EPS 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.