Independence Bank of Kentucky Acquires 1,865 Shares of Flutter Entertainment plc (NYSE:FLUT)

Independence Bank of Kentucky increased its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 93.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,868 shares of the company's stock after acquiring an additional 1,865 shares during the quarter. Independence Bank of Kentucky's holdings in Flutter Entertainment were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Seelaus Asset Management LLC raised its position in shares of Flutter Entertainment by 6.4% in the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock worth $236,000 after acquiring an additional 55 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after purchasing an additional 56 shares during the period. Parallel Advisors LLC grew its stake in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares during the period. Farther Finance Advisors LLC raised its holdings in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after purchasing an additional 83 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FLUT shares. JMP Securities reduced their target price on shares of Flutter Entertainment from $317.00 to $301.00 and set a "market outperform" rating on the stock in a research report on Thursday. Citizens Jmp cut their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $310.00 target price on shares of Flutter Entertainment in a report on Thursday, May 8th. UBS Group boosted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company upped their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $303.79.

Flutter Entertainment Trading Up 2.9%

Shares of FLUT stock opened at $249.61 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. The stock has a market capitalization of $44.10 billion and a P/E ratio of 86.37. The firm's 50 day moving average is $236.90 and its 200 day moving average is $253.79.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Flutter Entertainment's quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts expect that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Amy Howe sold 2,315 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the sale, the chief executive officer now owns 73,947 shares of the company's stock, valued at $18,006,094.50. The trade was a 3.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James Philip Bishop sold 3,000 shares of the company'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 sale, the chief operating officer now owns 4,712 shares of the company's stock, valued at $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,770 shares of company stock valued at $1,894,934.

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.

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