75,000 Shares in Flutter Entertainment PLC $FLUT Purchased by Riposte Capital LLC

Key Points

• Riposte Capital acquired 75,000 Flutter Entertainment shares in the first quarter, worth approximately $7.6 million and representing 1.9% of the firm’s portfolio.
• Analyst sentiment remains broadly positive, with MarketBeat’s consensus rating at “Moderate Buy” and an average price target of $176, despite some target reductions and one sell rating.
• Flutter reported quarterly EPS of $1.22, exceeding estimates of $1.09, while revenue rose 17.4% year over year to $4.30 billion. The stock opened at $109.01, well below its 52-week high of $313.68.

Riposte Capital LLC acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 75,000 shares of the company's stock, valued at approximately $7,646,000. Flutter Entertainment comprises 1.9% of Riposte Capital LLC's holdings, making the stock its 15th largest position.

Several other hedge funds have also recently modified their holdings of FLUT. Zions Bancorporation National Association UT grew its holdings in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. EFG International AG bought a new position in Flutter Entertainment in the 4th quarter valued at $36,000. IFP Advisors Inc grew its stake in Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company's stock valued at $40,000 after purchasing an additional 90 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Finally, LM Advisors LLC bought a new stake in shares of Flutter Entertainment during the 4th quarter worth $46,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLUT. Truist Financial cut their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Freedom Capital upgraded shares of Flutter Entertainment to a "hold" rating in a research note on Monday, June 22nd. Citizens Jmp decreased their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $167.00 price target on shares of Flutter Entertainment in a report on Friday, May 8th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Flutter Entertainment has an average rating of "Moderate Buy" and an average target price of $176.00.

Insider Activity

In related news, insider Don H. Liu sold 1,259 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total transaction of $117,552.83. Following the transaction, the insider directly owned 21,006 shares of the company's stock, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor acquired 1,611 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $94.29 per share, with a total value of $151,901.19. Following the completion of the acquisition, the chief executive officer owned 34,584 shares in the company, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $109.01 on Wednesday. The stock has a market capitalization of $18.97 billion, a PE ratio of -50.94, a P/E/G ratio of 1.45 and a beta of 1.31. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The company's 50 day simple moving average is $103.83 and its two-hundred day simple moving average is $118.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.13. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $1.59 EPS. Analysts predict that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

Flutter Entertainment Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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