Aigen Investment Management LP acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,817 shares of the company's stock, valued at approximately $846,000.
Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in Flutter Entertainment during the fourth quarter worth about $303,000. Envestnet Asset Management Inc. grew its position in shares of Flutter Entertainment by 181.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 68,023 shares of the company's stock valued at $17,581,000 after purchasing an additional 43,829 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Flutter Entertainment by 118.0% during the 4th quarter. Russell Investments Group Ltd. now owns 18,278 shares of the company's stock worth $4,724,000 after acquiring an additional 9,895 shares during the period. Raymond James Financial Inc. acquired a new position in Flutter Entertainment in the fourth quarter valued at $8,006,000. Finally, XTX Topco Ltd lifted its stake in shares of Flutter Entertainment by 13.2% in the 4th quarter. XTX Topco Ltd now owns 1,787 shares of the company's stock valued at $462,000 after purchasing an additional 209 shares in the last quarter.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on FLUT shares. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. BTIG Research reduced their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC upped their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday. Macquarie increased their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 target price on the stock. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $328.62.
Check Out Our Latest Stock Report on Flutter Entertainment
Insider Activity at Flutter Entertainment
In other Flutter Entertainment news, Director Carolan Lennon sold 430 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the sale, the director owned 769 shares in the company, valued at approximately $188,950.99. This trade represents a 35.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Holly K. Koeppel sold 267 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total transaction of $65,511.12. Following the completion of the transaction, the director directly owned 2,556 shares of the company's stock, valued at approximately $627,140.16. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,455 shares of company stock valued at $601,632. 0.09% of the stock is currently owned by company insiders.
Flutter Entertainment Price Performance
NYSE:FLUT opened at $284.75 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $50.14 billion, a PE ratio of 140.27, a price-to-earnings-growth ratio of 1.12 and a beta of 2.31. Flutter Entertainment PLC has a 12 month low of $183.18 and a 12 month high of $313.68. The company's 50-day moving average price is $283.92 and its two-hundred day moving average price is $260.32.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment's revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.
Flutter Entertainment announced that its board has authorized a share repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Flutter Entertainment Company Profile
(
Free Report)
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.
Further Reading
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