Gotham Asset Management LLC Buys New Shares in Flutter Entertainment plc (NYSE:FLUT)

Gotham Asset Management LLC acquired a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,748 shares of the company's stock, valued at approximately $452,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FLUT. Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $2,146,227,000. Norges Bank purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $946,681,000. Invesco Ltd. purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $621,680,000. Lone Pine Capital LLC purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $494,291,000. Finally, Capital World Investors boosted its stake in shares of Flutter Entertainment by 11.9% in 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 period.

Insiders Place Their Bets

In other news, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the transaction, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. The trade was a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the transaction, the director now directly owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This trade represents a 54.20% 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.

Wall Street Analyst Weigh In

FLUT has been the topic of several research analyst reports. JMP Securities cut their target price on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research report on Monday, April 14th. Citizens Jmp cut 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. Benchmark reissued a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $310.00 target price on shares of Flutter Entertainment in a research report on Thursday, May 8th. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $306.28.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded up $3.15 during midday trading on Friday, hitting $241.32. The company had a trading volume of 1,188,062 shares, compared to its average volume of 1,877,713. The company's 50 day simple moving average is $234.76 and its 200 day simple moving average is $254.69. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The stock has a market cap of $42.64 billion and a price-to-earnings ratio of 83.50. 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 (NYSE:FLUT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.59 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 analysts' expectations of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Research analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment 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.