Jefferies Financial Group Inc. Raises Stock Position 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. grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,163 shares of the company's stock after acquiring 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 reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock valued at $742,000 after purchasing an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Flutter Entertainment during the first quarter valued at about $380,000. Rubicon Global Capital Ltd grew its stake in shares of Flutter Entertainment by 56.1% during the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock valued at $15,564,000 after buying an additional 25,250 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock valued at $88,021,000 after buying an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after buying an additional 67 shares during the last quarter.

Flutter Entertainment Trading Down 1.3%

Shares of NYSE:FLUT traded down $4.07 during trading on Tuesday, reaching $299.84. 236,979 shares of the company were exchanged, compared to its average volume of 2,307,180. The firm has a market capitalization of $52.98 billion, a PE ratio of 103.77, a P/E/G ratio of 1.11 and a beta of 2.31. The business's fifty day simple moving average is $279.02 and its 200-day simple moving average is $259.27. Flutter Entertainment PLC has a 12-month low of $180.07 and a 12-month high of $309.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued 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). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same period last year, the business posted $0.10 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. On average, research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Buying and Selling

In other Flutter Entertainment news, Director Carolan Lennon sold 430 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the transaction, the director owned 769 shares of the company's stock, valued at approximately $188,950.99. This trade represents a 35.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Holly K. Koeppel sold 267 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total transaction of $65,511.12. Following the completion of the transaction, the director directly owned 2,556 shares of the company's stock, valued at approximately $627,140.16. This represents a 9.46% decrease in their position. 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 quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FLUT shares. Sanford C. Bernstein started coverage on Flutter Entertainment in a research note on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 target price on the stock. Stifel Nicolaus raised their target price on Flutter Entertainment from $315.00 to $353.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Macquarie reissued an "outperform" rating and issued a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Bank of America raised their target price on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Barclays reaffirmed an "overweight" rating and set a $350.00 price objective (up from $293.00) on shares of Flutter Entertainment in a research report on Friday, July 18th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.10.

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.