Twinbeech Capital LP Invests $7.01 Million in Flutter Entertainment plc (NYSE:FLUT)

Twinbeech Capital LP purchased a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 27,136 shares of the company's stock, valued at approximately $7,013,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Flutter Entertainment in the fourth quarter worth about $25,000. Farther Finance Advisors LLC raised its position in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. Finally, IFP Advisors Inc boosted its position in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the period.

Insider Buying and Selling

In related news, CEO Amy Howe sold 2,315 shares of Flutter Entertainment stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer now owns 73,947 shares of the company's stock, valued at approximately $18,006,094.50. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,156 shares of company stock valued at $10,926,922 over the last three months.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded up $3.15 during mid-day trading on Friday, reaching $241.32. 1,188,062 shares of the company traded hands, compared to its average volume of 1,870,132. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The firm has a market cap of $42.64 billion and a PE ratio of 83.50. The stock has a fifty day simple moving average of $234.61 and a 200-day simple moving average of $254.38. 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Equities research analysts anticipate that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analyst Ratings Changes

FLUT has been the subject of a number of recent research reports. Truist Financial lowered their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Benchmark reissued a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a report on Monday, April 21st. BTIG Research dropped their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. UBS Group lifted their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $306.28.

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.