Squarepoint Ops LLC Has $18.51 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Squarepoint Ops LLC grew its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 151.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,611 shares of the company's stock after buying an additional 43,101 shares during the quarter. Squarepoint Ops LLC's holdings in Flutter Entertainment were worth $18,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Capital World Investors lifted its holdings in shares of Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after acquiring an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd bought a new position in shares of Flutter Entertainment in the 4th quarter valued at approximately $2,146,227,000. Norges Bank bought a new position in shares of Flutter Entertainment in the 4th quarter valued at approximately $946,681,000. Finally, FMR LLC raised its stake in shares of Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after acquiring an additional 25,422 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of FLUT traded up $1.55 on Tuesday, reaching $242.53. 579,738 shares of the stock traded hands, compared to its average volume of 2,056,208. The firm has a market cap of $42.85 billion and a price-to-earnings ratio of 83.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The stock's 50-day moving average price is $234.75 and its 200-day moving average price is $254.64.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Equities analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLUT. Macquarie reissued 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. JMP Securities cut their price objective on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Stifel Nicolaus cut their price objective on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial cut their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $306.28.

Insider Activity

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the sale, the chief operating officer now owns 4,712 shares in the company, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,156 shares of company stock worth $10,926,922.

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.