BW Gestao de Investimentos Ltda. Makes New $3.91 Million Investment in Flutter Entertainment plc (NYSE:FLUT)

BW Gestao de Investimentos Ltda. purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,128 shares of the company's stock, valued at approximately $3,910,000.

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

Insider Buying and Selling

In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $6,556,072.92. Following 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 ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BTIG Research decreased their price target 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. Benchmark reiterated a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research report on Monday, April 21st. Barclays decreased their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Buy" and a consensus price target of $306.28.

Flutter Entertainment Trading Down 1.6 %

Shares of NYSE:FLUT traded down $3.86 during midday trading on Friday, reaching $237.33. 974,803 shares of the company's stock were exchanged, compared to its average volume of 1,854,144. The stock has a market cap of $41.95 billion and a price-to-earnings ratio of 1,078.77. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The firm's 50 day simple moving average is $234.64 and its two-hundred day simple moving average is $253.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly 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). The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. Flutter Entertainment's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast 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.