Banque Cantonale Vaudoise Buys New Stake in Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• Banque Cantonale Vaudoise has acquired 8,880 shares of Flutter Entertainment PLC valued at approximately $1,966,000, marking a significant investment in the company.
• Several institutional investors have increased their stakes in Flutter, with notable investments from GPS Wealth Strategies Group LLC (1,375% increase) and Parallel Advisors LLC (78.9% increase) in the first quarter.
• Flutter Entertainment reported a miss in quarterly EPS expectations with $1.59 EPS, although revenue was significantly above estimates at $3.67 billion, indicating a 7.9% year-over-year growth.

Banque Cantonale Vaudoise purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,880 shares of the company's stock, valued at approximately $1,966,000.

Several other large investors have also recently made changes to their positions in FLUT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Flutter Entertainment by 326.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock worth $742,000 after buying an additional 2,483 shares during the period. Whalen Wealth Management Inc. purchased a new position in shares of Flutter Entertainment in the first quarter worth $380,000. Rubicon Global Capital Ltd increased its stake in shares of Flutter Entertainment by 56.1% in the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after buying an additional 25,250 shares during the period. Bessemer Group Inc. increased its stake in shares of Flutter Entertainment by 0.6% in the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock worth $88,021,000 after buying an additional 2,478 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Flutter Entertainment by 1.4% in 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 during the period.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded down $2.69 during midday trading on Friday, hitting $299.57. 2,003,913 shares of the company's stock traded hands, compared to its average volume of 1,863,023. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $309.77. The stock has a market capitalization of $52.93 billion, a price-to-earnings ratio of 103.66, a price-to-earnings-growth ratio of 1.11 and a beta of 2.31. 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 firm has a fifty day moving average of $276.60 and a 200 day moving average of $258.67.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly 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 analysts' expectations of $3.06 billion. During the same period in the previous year, the company earned $0.10 EPS. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John A. Bryant sold 418 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the sale, the director directly owned 5,956 shares of the company's stock, valued at approximately $1,463,448.76. This represents a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Holly K. Koeppel sold 267 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.36, for a total transaction of $65,511.12. Following the sale, the director directly owned 2,556 shares of the company's stock, valued at approximately $627,140.16. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,770 shares of company stock worth $1,894,934 in the last ninety days.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FLUT shares. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. Needham & Company LLC lifted their price target on shares of Flutter Entertainment from $310.00 to $340.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Truist Financial upped their price objective on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Barclays reaffirmed an "overweight" rating and issued a $350.00 target price (up from $293.00) on shares of Flutter Entertainment in a research report on Friday, July 18th. Finally, Jefferies Financial Group started coverage on shares of Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $322.10.

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.