Cannon Global Investment Management LLC Takes $532,000 Position in Flutter Entertainment PLC (NYSE:FLUT)

Cannon Global Investment Management LLC bought a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,400 shares of the company's stock, valued at approximately $532,000. Flutter Entertainment accounts for 0.9% of Cannon Global Investment Management LLC's portfolio, making the stock its 22nd largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in Flutter Entertainment in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC increased its position in Flutter Entertainment by 585.7% during the 4th 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. GPS Wealth Strategies Group LLC raised its stake in shares of Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Flutter Entertainment by 78.9% during the 1st 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. Finally, IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLUT. Citizens Jmp cut their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. BTIG Research cut their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JMP Securities reiterated a "market outperform" rating and issued a $301.00 price objective on shares of Flutter Entertainment in a research note on Thursday, June 12th. Barclays decreased their price objective on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Susquehanna dropped their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $305.10.

Insider Buying and Selling

In other Flutter Entertainment news, Director Nancy Cruickshank sold 281 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $69,044.51. Following the transaction, the director directly owned 1,797 shares of the company's stock, valued at $441,540.87. The trade was a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carolan Lennon sold 430 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the transaction, the director owned 769 shares in the company, valued at approximately $188,950.99. This represents a 35.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,770 shares of company stock worth $1,894,934 over the last 90 days.

Flutter Entertainment Trading Down 1.9%

Shares of FLUT traded down $5.34 on Thursday, hitting $277.00. 1,138,206 shares of the stock traded hands, compared to its average volume of 2,080,937. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $299.73. The stock's 50 day moving average is $254.02 and its two-hundred day moving average is $253.46. The firm has a market capitalization of $48.94 billion and a P/E ratio of 95.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment Company 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.