Farallon Capital Management LLC Purchases 37,030 Shares of Flutter Entertainment plc (NYSE:FLUT)

Farallon Capital Management LLC lifted its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 69.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,300 shares of the company's stock after purchasing an additional 37,030 shares during the quarter. Farallon Capital Management LLC owned 0.05% of Flutter Entertainment worth $23,338,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jennison Associates LLC bought a new position in Flutter Entertainment during the fourth quarter valued at about $239,306,000. DJE Kapital AG bought a new position in Flutter Entertainment during the fourth quarter valued at about $442,000. Benson Investment Management Company Inc. bought a new position in Flutter Entertainment during the fourth quarter valued at about $5,116,000. Bank of New York Mellon Corp boosted its stake in Flutter Entertainment by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock valued at $51,642,000 after buying an additional 81,101 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Flutter Entertainment by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company's stock valued at $170,913,000 after purchasing an additional 38,800 shares during the period.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred 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 in the company, valued at $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of recent analyst reports. Macquarie reiterated an "outperform" rating and issued a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday. BTIG Research decreased their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Truist Financial decreased their price target on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, UBS Group increased their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Stock Down 2.7%

Shares of Flutter Entertainment stock traded down $6.43 during trading on Friday, hitting $234.76. 1,691,383 shares of the stock traded hands, compared to its average volume of 1,864,072. The company has a fifty day moving average price of $234.03 and a two-hundred day moving average price of $253.74. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. 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 has a market cap of $41.48 billion and a P/E ratio of 81.23.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current fiscal 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.