Flutter Entertainment plc (NYSE:FLUT) Stock Position Increased by Rubicon Global Capital Ltd

Rubicon Global Capital Ltd raised its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 56.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,250 shares of the company's stock after purchasing an additional 25,250 shares during the quarter. Flutter Entertainment makes up about 5.3% of Rubicon Global Capital Ltd's portfolio, making the stock its 6th biggest holding. Rubicon Global Capital Ltd's holdings in Flutter Entertainment were worth $15,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased 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 buying an additional 56 shares during the period. Parallel Advisors LLC lifted its stake in shares of Flutter Entertainment by 78.9% in 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. Farther Finance Advisors LLC raised its position in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. IFP Advisors Inc boosted its position in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after buying an additional 83 shares during the period. Finally, State of Wyoming grew its stake in shares of Flutter Entertainment by 19.1% in the fourth quarter. State of Wyoming now owns 536 shares of the company's stock worth $139,000 after purchasing an additional 86 shares during the last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $6.73 during midday trading on Friday, hitting $264.66. The company had a trading volume of 2,621,880 shares, compared to its average volume of 1,889,856. The company has a market capitalization of $46.76 billion and a PE ratio of 91.58. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The stock's fifty day moving average price is $241.04 and its 200-day moving average price is $253.77.

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 for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Nancy Cruickshank sold 281 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $69,044.51. Following the completion of the transaction, the director now directly owns 1,797 shares in the company, valued at $441,540.87. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alfred F. Hurley, Jr. sold 265 shares of Flutter Entertainment stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $243.94, for a total transaction of $64,644.10. Following the completion of the transaction, the director now directly owns 3,518 shares of the company's stock, valued at $858,180.92. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 in the last 90 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Benchmark reiterated a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and issued a $301.00 price target on shares of Flutter Entertainment in a report on Thursday. Finally, BTIG Research lowered their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $303.79.

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.