Jefferies Financial Group Inc. Increases Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• Jefferies Financial Group Inc. raised its stake in Flutter Entertainment PLC by 5.4% during the first quarter, holding 18,163 shares worth approximately $3,995,000 at the end of the reporting period.
• Flutter Entertainment reported earnings of $1.59 per share for the latest quarter, missing estimates by $0.30, but revenue increased by 7.9% year-over-year to $3.67 billion.
• Various hedge funds significantly increased their investments in Flutter, with Wellington Shields & Co. increasing by 37.2% and XTX Topco Ltd boosting holdings by a remarkable 1,249.0% during the same period.

Jefferies Financial Group Inc. increased its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,163 shares of the company's stock after purchasing an additional 928 shares during the period. Jefferies Financial Group Inc.'s holdings in Flutter Entertainment were worth $3,995,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FLUT. GPS Wealth Strategies Group LLC lifted its stake in Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Flutter Entertainment in the 4th quarter valued at approximately $33,000. Parallel Advisors LLC lifted its stake in Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after acquiring an additional 60 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in Flutter Entertainment in the 4th quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC lifted its stake in Flutter Entertainment by 90.6% in the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after acquiring an additional 87 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Needham & Company LLC boosted their target price on Flutter Entertainment from $310.00 to $340.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus upped their price objective on Flutter Entertainment from $315.00 to $353.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Barclays reiterated an "overweight" rating and set a $350.00 price objective (up previously from $293.00) on shares of Flutter Entertainment in a research note on Friday, July 18th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 price objective on the stock. Finally, JMP Securities upped their price objective on Flutter Entertainment from $301.00 to $323.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Two investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $322.10.

Flutter Entertainment Price Performance

Shares of FLUT stock traded up $2.65 on Thursday, hitting $309.60. 227,720 shares of the company's stock were exchanged, compared to its average volume of 2,308,873. 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 stock has a market cap of $54.70 billion, a P/E ratio of 107.13, a price-to-earnings-growth ratio of 1.12 and a beta of 2.31. Flutter Entertainment PLC has a 12 month low of $183.18 and a 12 month high of $313.69. The company has a 50 day moving average of $280.22 and a 200 day moving average of $259.59.

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 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 during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the business posted $0.10 earnings per share. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Activity at Flutter Entertainment

In other news, COO James Philip Bishop sold 3,000 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the completion of the transaction, the chief operating officer directly owned 4,712 shares in the company, valued at $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nancy Cruickshank sold 281 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $69,044.51. Following the completion of the sale, the director owned 1,797 shares of the company's stock, valued at approximately $441,540.87. The trade was a 13.52% 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 over the last ninety days.

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.