Flutter Entertainment PLC $FLUT Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Flutter Entertainment stake by 286.2% in the first quarter, purchasing 39,133 additional shares for a total holding of 52,805 shares valued at approximately $5.38 million.
• Flutter reported quarterly EPS of $1.22, beating estimates by $0.13, while revenue rose 17.4% year over year to $4.30 billion. The stock opened at $104.39, near its 52-week low compared with a high of $313.68.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $176.00, despite several recent target-price reductions. CEO Daniel Mark Taylor and COO James Philip Bishop also purchased company shares in May.

Arrowstreet Capital Limited Partnership boosted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 286.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,805 shares of the company's stock after purchasing an additional 39,133 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Flutter Entertainment were worth $5,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Zions Bancorporation National Association UT boosted its holdings in Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. EFG International AG acquired a new stake in Flutter Entertainment during the fourth quarter worth about $36,000. IFP Advisors Inc raised its holdings in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company's stock worth $40,000 after purchasing an additional 90 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, LM Advisors LLC acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at about $46,000.

Flutter Entertainment Price Performance

FLUT stock opened at $104.39 on Monday. The firm has a market cap of $18.16 billion, a P/E ratio of -48.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The stock has a 50-day simple moving average of $104.29 and a 200-day simple moving average of $116.45.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. On average, equities analysts predict that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLUT. Truist Financial decreased their target price on Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Moffett Nathanson lowered shares of Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $167.00 price target on shares of Flutter Entertainment in a research report on Friday, May 8th. Needham & Company LLC decreased their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Finally, Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.00.

Insider Activity at Flutter Entertainment

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

Flutter Entertainment 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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