Flutter Entertainment PLC (NYSE:FLUT) Shares Acquired by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its stake in Flutter Entertainment by 72.0% during the first quarter, acquiring additional shares valued at approximately $17.86 million.
• Flutter Entertainment reported a quarterly earnings per share (EPS) of $1.59, missing the consensus estimate by ($0.30), while its revenue was $3.67 billion, surpassing expectations.
• Equities analysts remain optimistic, with the consensus rating for Flutter Entertainment stock categorized as a "Moderate Buy", and the average target price set at $322.10.

Mediolanum International Funds Ltd lifted its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 72.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,924 shares of the company's stock after buying an additional 32,620 shares during the period. Mediolanum International Funds Ltd's holdings in Flutter Entertainment were worth $17,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GPS Wealth Strategies Group LLC boosted its stake in Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Flutter Entertainment during the 4th quarter worth $33,000. Parallel Advisors LLC boosted its position in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after acquiring an additional 60 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $36,000. Finally, Farther Finance Advisors LLC increased its position in Flutter Entertainment by 90.6% during the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after purchasing an additional 87 shares during the last quarter.

Flutter Entertainment Trading Up 1.6%

NYSE:FLUT opened at $304.82 on Friday. The stock has a fifty day moving average price of $271.76 and a 200 day moving average price of $257.32. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. Flutter Entertainment PLC has a 12-month low of $175.59 and a 12-month high of $309.77. The firm has a market cap of $53.86 billion and a PE ratio of 105.47.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (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 company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The business's quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Flutter Entertainment in a report on Wednesday, June 25th. They issued a "buy" rating and a $330.00 target price on the stock. Sanford C. Bernstein started coverage on Flutter Entertainment in a report on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 price objective on the stock. Oppenheimer raised their target price on Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research note on Tuesday. Citizens Jmp reduced their target price on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Barclays reaffirmed an "overweight" rating and issued a $350.00 price target (up previously from $293.00) on shares of Flutter Entertainment in a research note on Friday, July 18th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $322.10.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 2,315 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the sale, the chief executive officer directly owned 73,947 shares in the company, valued at approximately $18,006,094.50. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Bryant sold 418 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the transaction, the director directly owned 5,956 shares in the company, valued at $1,463,448.76. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock worth $1,894,934 over the last ninety days.

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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