Allianz Asset Management GmbH Purchases 2,023 Shares of Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• Allianz Asset Management GmbH increased its stake in Flutter Entertainment PLC by 213.6% during the first quarter, owning 2,970 shares valued at approximately $711,000 as of the latest SEC filing.
• Several hedge funds have adjusted their holdings in Flutter Entertainment, with LPL Financial LLC notably increasing its stake by 491.0% during the fourth quarter.
• Despite missing earnings expectations, Flutter Entertainment reported a revenue of $3.67 billion for the quarter, significantly exceeding consensus estimates.

Allianz Asset Management GmbH boosted its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 213.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,970 shares of the company's stock after buying an additional 2,023 shares during the period. Allianz Asset Management GmbH's holdings in Flutter Entertainment were worth $711,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FLUT. Commonwealth Equity Services LLC increased its stake in shares of Flutter Entertainment by 36.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,776 shares of the company's stock worth $459,000 after buying an additional 473 shares during the last quarter. American Century Companies Inc. acquired a new position in Flutter Entertainment in the fourth quarter worth $303,000. LPL Financial LLC boosted its holdings in Flutter Entertainment by 491.0% in the fourth quarter. LPL Financial LLC now owns 38,238 shares of the company's stock worth $9,883,000 after purchasing an additional 31,768 shares during the period. Blair William & Co. IL acquired a new position in shares of Flutter Entertainment during the fourth quarter valued at $225,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Flutter Entertainment by 22.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,999 shares of the company's stock valued at $1,292,000 after acquiring an additional 932 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the transaction, the chief operating officer owned 4,712 shares of the company's stock, valued at $1,145,958.40. The trade was a 38.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 2,315 shares of the business's stock in a transaction that occurred on 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 directly owned 73,947 shares in the company, valued at $18,006,094.50. This trade represents a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 in the last 90 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FLUT. Canaccord Genuity Group started coverage on shares of Flutter Entertainment in a report on Wednesday, June 25th. They set a "buy" rating and a $330.00 price target for the company. Oppenheimer lifted their price objective on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Macquarie restated an "outperform" rating and set a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Stifel Nicolaus boosted their price target on shares of Flutter Entertainment from $315.00 to $353.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $322.10.

Flutter Entertainment Stock Up 0.7%

Shares of NYSE FLUT traded up $2.05 during mid-day trading on Wednesday, reaching $306.53. 1,772,742 shares of the company's stock were exchanged, compared to its average volume of 2,316,377. The firm has a market capitalization of $54.16 billion, a price-to-earnings ratio of 106.09, a PEG ratio of 1.12 and a beta of 2.31. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $280.22 and a 200 day simple moving average of $259.59. Flutter Entertainment PLC has a twelve month low of $180.07 and a twelve month high of $309.77.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The firm had revenue of $3.67 billion for 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%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, equities analysts expect 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.