IFC Advisors LLC Takes Position in Flutter Entertainment PLC (NYSE:FLUT)

IFC Advisors LLC acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,477 shares of the company's stock, valued at approximately $2,543,000.

Other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 82 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after buying an additional 110 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $33,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and issued a $301.00 price target on shares of Flutter Entertainment in a report on Thursday, June 12th. 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 price target for the company. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a report on Tuesday. They issued a "buy" rating and a $380.00 price target for the company. Macquarie reiterated an "outperform" rating and issued a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Finally, Truist Financial reduced their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $310.10.

Insider Buying and Selling

In other news, COO James Philip Bishop sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the transaction, the chief operating officer directly owned 4,712 shares of the company's stock, valued at $1,145,958.40. This represents a 38.90% 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 this link. Also, Director Carolan Lennon sold 430 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $105,655.30. Following the completion of the transaction, the director directly owned 769 shares in the company, valued at $188,950.99. The trade was a 35.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,770 shares of company stock valued at $1,894,934.

Flutter Entertainment Stock Performance

NYSE FLUT traded up $0.40 on Friday, hitting $289.98. 1,446,991 shares of the stock were exchanged, compared to its average volume of 2,104,397. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. The business's fifty day moving average is $260.42 and its 200 day moving average is $254.32. Flutter Entertainment PLC has a 52 week low of $175.59 and a 52 week high of $299.73. The company has a market capitalization of $51.24 billion and a PE ratio of 100.34.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 11.76% and a net margin of 4.17%. 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. The business's revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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.