Cubist Systematic Strategies LLC Has $33.42 Million Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Cubist Systematic Strategies LLC increased its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 74.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,298 shares of the company's stock after buying an additional 55,370 shares during the quarter. Flutter Entertainment comprises approximately 0.2% of Cubist Systematic Strategies LLC's holdings, making the stock its 24th largest position. Cubist Systematic Strategies LLC owned 0.07% of Flutter Entertainment worth $33,417,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Parvus Asset Management Europe Ltd bought a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $2,146,227,000. Norges Bank purchased a new position in Flutter Entertainment during the fourth quarter valued at approximately $946,681,000. Invesco Ltd. acquired a new position in shares of Flutter Entertainment in the fourth quarter worth $621,680,000. Lone Pine Capital LLC purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth about $494,291,000. Finally, Capital World Investors lifted its stake in Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after acquiring an additional 1,635,241 shares during the last quarter.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the firm's 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 completion of the sale, the chief executive officer now owns 62,941 shares of the company's stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here.

Analysts Set New Price Targets

FLUT has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $310.00 target price on shares of Flutter Entertainment in a report on Thursday. Benchmark reissued a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Barclays cut their price target on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Citizens Jmp decreased their target price on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. 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, Flutter Entertainment has an average rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Trading Down 2.7 %

FLUT stock traded down $6.43 during midday trading on Friday, hitting $234.76. 1,691,383 shares of the company's stock were exchanged, compared to its average volume of 1,864,072. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The stock's fifty day moving average price is $234.03 and its 200-day moving average price is $253.56. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company has a market cap of $41.48 billion and a PE ratio of 81.23.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued 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). 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 during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts predict that Flutter Entertainment plc will post 4.17 earnings per share 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.