Bessemer Group Inc. Boosts Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Bessemer Group Inc. raised its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 397,297 shares of the company's stock after purchasing an additional 2,478 shares during the period. Bessemer Group Inc. owned 0.22% of Flutter Entertainment worth $88,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Harbor Investment Advisory LLC increased its holdings in Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after acquiring an additional 56 shares during the last quarter. Parallel Advisors LLC boosted its position in 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. boosted its position in 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. Farther Finance Advisors LLC increased its stake in shares of Flutter Entertainment by 585.7% in 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 in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently commented on FLUT shares. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Citizens Jmp cut their price target on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a report on Monday, April 14th. BTIG Research decreased their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Canaccord Genuity Group assumed coverage on Flutter Entertainment in a research note on Wednesday. They issued a "buy" rating and a $330.00 target price for the company. Finally, Truist Financial reduced their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $305.10.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 2,315 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the transaction, the chief executive officer now owns 73,947 shares of the company's stock, valued at approximately $18,006,094.50. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,770 shares of company stock valued at $1,894,934.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $268.00 on Thursday. Flutter Entertainment PLC has a fifty-two week low of $175.59 and a fifty-two week high of $299.73. 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 stock has a market cap of $47.35 billion and a P/E ratio of 92.73. The firm's fifty day moving average price is $248.65 and its 200-day moving average price is $253.31.

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

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.

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