Mirae Asset Global Investments Co. Ltd. Increases Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Mirae Asset Global Investments Co. Ltd. raised its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 326.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,243 shares of the company's stock after buying an additional 2,483 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Flutter Entertainment were worth $742,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in shares of Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock valued at $407,000 after purchasing an additional 53 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Flutter Entertainment by 1.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 30,964 shares of the company's stock valued at $6,860,000 after purchasing an additional 589 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Flutter Entertainment by 0.6% during the 1st quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock valued at $88,021,000 after purchasing an additional 2,478 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Flutter Entertainment by 8.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 67,663 shares of the company's stock valued at $14,991,000 after purchasing an additional 5,099 shares in the last quarter. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $380,000.

Analyst Ratings Changes

FLUT has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Sanford C. Bernstein began coverage on Flutter Entertainment in a research note on Wednesday, June 4th. They set a "market perform" rating and a $275.00 price target on the stock. BTIG Research dropped their price target 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. Macquarie reaffirmed an "outperform" rating and set a $340.00 price target (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $310.00 price target on shares of Flutter Entertainment in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $308.67.

Insider Buying and Selling at Flutter Entertainment

In other news, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The stock was 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 approximately $1,463,448.76. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the transaction, the director owned 769 shares of the company's stock, valued at approximately $188,950.99. This trade represents a 35.86% 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 quarter.

Flutter Entertainment Stock Performance

NYSE FLUT traded up $2.70 on Tuesday, hitting $285.55. 2,595,115 shares of the stock traded hands, compared to its average volume of 2,096,015. The business's fifty day moving average is $256.79 and its two-hundred day moving average is $253.48. Flutter Entertainment PLC has a 12 month low of $175.59 and a 12 month high of $299.73. The firm has a market capitalization of $50.45 billion and a price-to-earnings ratio of 98.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95.

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 net margin of 4.17% and a return on equity of 11.76%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the company posted $0.10 earnings per share. Flutter Entertainment's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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.