Centiva Capital LP Makes New $582,000 Investment in Flutter Entertainment plc (NYSE:FLUT)

Centiva Capital LP bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,253 shares of the company's stock, valued at approximately $582,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FLUT. Harbour Capital Advisors LLC purchased a new position in Flutter Entertainment in the fourth quarter worth approximately $505,000. Benson Investment Management Company Inc. acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth about $5,116,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $390,000. Park Avenue Securities LLC purchased a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $669,000. Finally, Ritholtz Wealth Management lifted its stake in 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. BTIG Research dropped their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Benchmark reiterated a "buy" rating and issued a $300.00 target price on shares of Flutter Entertainment in a report on Monday, April 21st. JMP Securities cut their price target on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Finally, Citizens Jmp lowered their price objective on 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 equities 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, the stock presently has a consensus rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded up $6.90 during trading on Wednesday, reaching $248.74. The company had a trading volume of 1,373,131 shares, compared to its average volume of 1,862,401. The stock has a market capitalization of $43.95 billion and a PE ratio of 86.07. The stock has a 50-day moving average price of $233.25 and a two-hundred day moving average price of $253.81. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. 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 posted its quarterly earnings data 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 return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business earned $0.10 EPS. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 2,315 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the transaction, the chief executive officer now directly owns 73,947 shares of the company's stock, valued at $18,006,094.50. This trade represents a 3.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the sale, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,156 shares of company stock valued at $10,926,922.

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.