Deutsche Bank AG Raises Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• Deutsche Bank AG increased its stake in Flutter Entertainment PLC by 52.2%, now holding approximately 1.05% of the company worth about $409.8 million after purchasing an additional 634,497 shares.
• Several other institutional investors made significant changes to their positions in Flutter Entertainment, including GPS Wealth Strategies Group LLC, which boosted its stake by 1,375.0%.
• Flutter Entertainment reported $2.95 EPS for the most recent quarter, surpassing estimates, with a year-over-year revenue increase of 16.0%.

Deutsche Bank AG lifted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 52.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,849,769 shares of the company's stock after purchasing an additional 634,497 shares during the period. Deutsche Bank AG owned about 1.05% of Flutter Entertainment worth $409,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its stake in Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares during the period. Parallel Advisors LLC grew its holdings 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 during the last quarter. Tower Research Capital LLC TRC acquired a new position in Flutter Entertainment in the 4th quarter valued at about $33,000. TD Waterhouse Canada Inc. purchased a new stake in Flutter Entertainment during the 4th quarter valued at approximately $36,000. Finally, Harbor Investment Advisory LLC lifted its position in Flutter Entertainment by 43.8% during 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 period.

Insider Buying and Selling

In other news, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the sale, the director directly owned 5,956 shares in the company, valued at $1,463,448.76. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Holly K. Koeppel sold 267 shares of the company's 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 transaction, the director directly owned 2,556 shares in the company, valued at $627,140.16. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,455 shares of company stock worth $601,632 in the last 90 days.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $306.75 on Friday. 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 price is $282.57 and its two-hundred day moving average price is $260.22. The stock has a market cap of $54.20 billion, a PE ratio of 106.14, a price-to-earnings-growth ratio of 1.13 and a beta of 2.31. Flutter Entertainment PLC has a one year low of $183.18 and a one year high of $313.69.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. Flutter Entertainment's quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Analysts Set New Price Targets

FLUT has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on Flutter Entertainment from $315.00 to $353.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Bank of America raised their target price on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Citizens Jmp lowered their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a 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. Finally, Sanford C. Bernstein began coverage on shares of Flutter Entertainment in a research report on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 price objective for the company. Two 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. According to MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $322.10.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.