Amundi Purchases 1,694,474 Shares of Flutter Entertainment PLC $FLUT

Amundi boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 463.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,059,906 shares of the company's stock after acquiring an additional 1,694,474 shares during the quarter. Amundi owned 1.18% of Flutter Entertainment worth $210,007,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FLUT. Truist Financial decreased their target price on Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. BTIG Research cut their price target on Flutter Entertainment from $126.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday. Barclays lifted their price objective on shares of Flutter Entertainment from $150.00 to $151.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Finally, Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $176.00.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, COO James Philip Bishop purchased 1,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief operating officer owned 17,605 shares in the company, valued at approximately $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the sale, the chief executive officer owned 74,326 shares of the company's stock, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company's stock.

Flutter Entertainment Stock Performance

FLUT opened at $102.25 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $17.79 billion, a PE ratio of -47.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The business has a fifty day simple moving average of $104.15 and a 200 day simple moving average of $117.17. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68.

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