7,768 Shares in Flutter Entertainment PLC (NYSE:FLUT) Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. acquired 7,768 shares of Flutter Entertainment PLC, valued at approximately $1.7 million, as reported in their 13F filing.
• Flutter Entertainment recently faced insider selling, with Director Nancy Cruickshank and CEO Amy Howe selling 281 and 2,315 shares respectively, decreasing their holdings significantly.
• Analysts have set a consensus price target of $322.10 for Flutter Entertainment, with Oppenheimer raising their target from $310 to $350 and Jefferies issuing a "buy" rating with a target of $380.

Jupiter Asset Management Ltd. purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,768 shares of the company's stock, valued at approximately $1,700,000.

Other hedge funds have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC grew its stake in shares of 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 buying an additional 110 shares during the period. Parallel Advisors LLC grew its stake in shares of 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 buying an additional 60 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $33,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $36,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after buying an additional 56 shares during the period.

Insider Buying and Selling

In related news, Director Nancy Cruickshank sold 281 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $69,044.51. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amy Howe sold 2,315 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.50, for a total transaction of $563,702.50. Following the sale, the chief executive officer directly owned 73,947 shares in the company, valued at approximately $18,006,094.50. This represents a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,770 shares of company stock valued at $1,894,934 in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FLUT. Sanford C. Bernstein began coverage on shares of Flutter Entertainment in a research note on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 price target for the company. Oppenheimer increased their price objective on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Citizens Jmp lowered their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. JMP Securities increased their price objective on shares of Flutter Entertainment from $301.00 to $323.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group started coverage on shares of Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price objective for the company. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.10.

Flutter Entertainment Stock Performance

FLUT traded up $1.02 on Tuesday, reaching $304.93. The company had a trading volume of 2,165,585 shares, compared to its average volume of 1,964,370. Flutter Entertainment PLC has a 1 year low of $180.07 and a 1 year high of $309.77. The stock has a market capitalization of $53.88 billion, a PE ratio of 105.51, a P/E/G ratio of 1.12 and a beta of 2.31. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $279.02 and a 200-day moving average price of $259.27.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. Flutter Entertainment's revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. As a group, research analysts forecast that Flutter Entertainment PLC will post 4.17 EPS 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.