Flutter Entertainment PLC $FLUT Holdings Increased by HughesLittle Investment Management Ltd.

Key Points

• HughesLittle Investment Management boosted its Flutter Entertainment stake by 34.8% in the first quarter, adding 85,050 shares to reach 329,440 shares worth about $33.6 million.
• Flutter reported better-than-expected quarterly results, posting EPS of $1.22 versus $1.09 expected and revenue of $4.30 billion, up 17.4% from a year earlier.
• Insiders and analysts remain active: the COO and CEO both bought shares in May, while Wall Street consensus stays at Moderate Buy with an average price target of $178.83.

HughesLittle Investment Management Ltd. lifted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 34.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,440 shares of the company's stock after purchasing an additional 85,050 shares during the period. Flutter Entertainment comprises 6.6% of HughesLittle Investment Management Ltd.'s portfolio, making the stock its 8th largest position. HughesLittle Investment Management Ltd. owned 0.19% of Flutter Entertainment worth $33,586,000 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. MML Investors Services LLC grew its holdings in Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company's stock valued at $2,024,000 after purchasing an additional 45 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock worth $290,000 after buying an additional 69 shares in the last quarter. Truist Financial Corp boosted its position in Flutter Entertainment by 2.8% in the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company's stock valued at $560,000 after buying an additional 72 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock valued at $25,000 after acquiring an additional 79 shares in the last quarter.

Flutter Entertainment Stock Down 1.6%

Shares of Flutter Entertainment stock opened at $108.21 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market cap of $18.83 billion, a P/E ratio of -50.57, a P/E/G ratio of 1.43 and a beta of 1.31. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The business has a 50-day moving average price of $102.55 and a 200 day moving average price of $125.11.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.96 earnings per share for the current fiscal year.

Insider Activity

In other news, COO James Philip Bishop acquired 1,000 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief operating officer directly owned 17,605 shares of the company's stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Mark Taylor bought 1,611 shares of the stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $94.29 per share, with a total value of $151,901.19. Following the purchase, the chief executive officer owned 34,584 shares of the company's stock, valued at $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLUT shares. BTIG Research dropped their target price on Flutter Entertainment from $137.00 to $126.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company increased their price target on Flutter Entertainment from $161.00 to $168.00 and gave the company an "equal weight" rating in a report on Friday, June 12th. Benchmark lowered their price objective on Flutter Entertainment from $175.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Barclays lifted their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Moffett Nathanson lowered Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 target price on the stock. in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $178.83.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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