2,000 Shares in Flutter Entertainment PLC (NYSE:FLUT) Acquired by Deltec Asset Management LLC

Deltec Asset Management LLC acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the company's stock, valued at approximately $443,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC grew its holdings in Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after buying an additional 56 shares in the last quarter. Parallel Advisors LLC grew its holdings in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after buying an additional 60 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after buying an additional 82 shares in the last quarter. IFP Advisors Inc grew its holdings in Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after buying an additional 83 shares in the last quarter. Finally, State of Wyoming grew its holdings in Flutter Entertainment by 19.1% during the fourth quarter. State of Wyoming now owns 536 shares of the company's stock worth $139,000 after buying an additional 86 shares in the last quarter.

Flutter Entertainment Price Performance

FLUT traded down $8.54 during trading on Friday, reaching $263.94. 7,234,954 shares of the company were exchanged, compared to its average volume of 1,952,161. The company's 50-day moving average is $246.14 and its two-hundred day moving average is $253.30. The company has a market cap of $46.63 billion and a price-to-earnings ratio of 91.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. Flutter Entertainment PLC has a 12-month low of $175.59 and a 12-month high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its 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 business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. Flutter Entertainment's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLUT. 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 report on Wednesday, April 23rd. UBS Group upped their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Susquehanna reduced their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. BTIG Research reduced their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Benchmark restated a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus price target of $303.79.

Insiders Place Their Bets

In other news, Director Atif Rafiq sold 265 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $244.18, for a total transaction of $64,707.70. Following the transaction, the director now directly owns 2,474 shares in the company, valued at approximately $604,101.32. This represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Philip Bishop sold 3,000 shares of the 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 transaction, the chief operating officer now owns 4,712 shares in the company, valued at $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,770 shares of company stock worth $1,894,934 in the last ninety days.

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.