Flutter Entertainment PLC (NYSE:FLUT) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,551 shares of the company's stock after buying an additional 6,738 shares during the quarter. Bank of New York Mellon Corp owned 0.12% of Flutter Entertainment worth $45,761,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its stake in Flutter Entertainment by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after purchasing an additional 53 shares during the period. Harbor Investment Advisory LLC grew its position 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 buying an additional 56 shares in the last quarter. Parallel Advisors LLC grew its position 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 buying an additional 60 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position 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 buying an additional 67 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position 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 buying an additional 82 shares in the last quarter.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 2,315 shares of Flutter Entertainment stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the transaction, the chief executive officer owned 73,947 shares in the company, valued at approximately $18,006,094.50. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nancy Cruickshank sold 281 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $69,044.51. Following the transaction, the director owned 1,797 shares of the company's stock, valued at approximately $441,540.87. The trade was a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock valued at $1,894,934 in the last quarter.

Analysts Set New Price Targets

FLUT has been the subject of a number of analyst reports. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. BTIG Research dropped their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Macquarie reiterated an "outperform" rating and issued a $340.00 price objective (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Bank of America increased their price objective on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Truist Financial set a $340.00 price objective on Flutter Entertainment and gave the company a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $315.81.

Flutter Entertainment Price Performance

FLUT traded up $1.26 on Thursday, hitting $297.52. 539,964 shares of the company were exchanged, compared to its average volume of 2,097,447. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The business's fifty day moving average is $263.39 and its 200 day moving average is $255.04. Flutter Entertainment PLC has a fifty-two week low of $175.59 and a fifty-two week high of $299.73. The firm has a market capitalization of $52.57 billion and a P/E ratio of 102.93.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results 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 business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment 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.