Mackenzie Financial Corp Acquires Shares of 8,707 Flutter Entertainment plc (NYSE:FLUT)

Mackenzie Financial Corp bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,707 shares of the company's stock, valued at approximately $2,250,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Jennison Associates LLC bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $239,306,000. DJE Kapital AG bought a new stake in Flutter Entertainment during the 4th quarter worth approximately $442,000. Bank of New York Mellon Corp lifted its holdings in Flutter Entertainment by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock valued at $51,642,000 after purchasing an additional 81,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Flutter Entertainment by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company's stock worth $170,913,000 after purchasing an additional 38,800 shares during the period. Finally, Plato Investment Management Ltd boosted its position in shares of Flutter Entertainment by 244.4% in the fourth quarter. Plato Investment Management Ltd now owns 3,265 shares of the company's stock worth $847,000 after purchasing an additional 2,317 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on FLUT shares. Wells Fargo & Company lifted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Macquarie restated an "outperform" rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Benchmark restated a "buy" rating and issued a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Truist Financial dropped their price objective 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. Finally, BTIG Research dropped their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Buy" and an average price target of $304.63.

Flutter Entertainment Stock Performance

NYSE FLUT traded down $2.46 on Wednesday, reaching $244.11. 1,094,946 shares of the company's stock traded hands, compared to its average volume of 1,875,370. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $43.13 billion and a price-to-earnings ratio of 84.47. The stock has a 50 day moving average price of $235.93 and a 200-day moving average price of $254.12.

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 (EPS) 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 analyst estimates of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. Equities research analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO James Philip Bishop sold 3,000 shares of the company's stock in a transaction that occurred on 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 now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. This represents a 38.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. The trade was a 15.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,156 shares of company stock valued at $10,926,922.

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.