Alta Advisers Ltd Makes New $213,000 Investment in Flutter Entertainment PLC (NYSE:FLUT)

Alta Advisers Ltd acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 961 shares of the company's stock, valued at approximately $213,000.

A number of other hedge funds also recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its position in shares of Flutter Entertainment by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock valued at $407,000 after buying an additional 53 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of 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 purchasing an additional 56 shares during the period. Parallel Advisors LLC increased its stake in shares of 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 purchasing an additional 60 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 82 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FLUT. Sanford C. Bernstein began coverage on Flutter Entertainment in a research note on Wednesday, June 4th. They set a "market perform" rating and a $275.00 target price on the stock. Canaccord Genuity Group began coverage on Flutter Entertainment in a research note on Wednesday, June 25th. They set a "buy" rating and a $330.00 target price on the stock. Barclays lowered their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Truist Financial lowered their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Benchmark restated a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $305.10.

Flutter Entertainment Trading Down 1.9%

Shares of FLUT traded down $5.34 during trading hours on Friday, hitting $277.00. 1,138,206 shares of the stock were exchanged, compared to its average volume of 2,091,884. Flutter Entertainment PLC has a fifty-two week low of $175.59 and a fifty-two week high of $299.73. The business has a 50-day moving average of $255.84 and a 200-day moving average of $253.41. The firm has a market capitalization of $48.94 billion and a P/E ratio of 43.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Activity

In other Flutter Entertainment news, Director Carolan Lennon sold 430 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $105,655.30. Following the completion of the sale, the director owned 769 shares in the company, valued at approximately $188,950.99. The trade was a 35.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Bryant sold 418 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the transaction, the director owned 5,956 shares in the company, valued at approximately $1,463,448.76. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,770 shares of company stock valued at $1,894,934.

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.