Flutter Entertainment plc (NYSE:FLUT) Shares Purchased by Man Group plc

Man Group plc raised its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 62.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,504 shares of the company's stock after purchasing an additional 22,865 shares during the period. Man Group plc's holdings in Flutter Entertainment were worth $15,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FLUT. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the fourth quarter worth about $25,000. 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 buying an additional 82 shares during the last quarter. BOCHK Asset Management Ltd bought a new position in Flutter Entertainment in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. bought a new stake in Flutter Entertainment in the 4th quarter worth about $26,000. Finally, IFP Advisors Inc grew its holdings in shares of 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 acquiring an additional 83 shares during the period.

Insiders Place Their Bets

In other Flutter Entertainment news, 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 directly owns 4,712 shares in the company, valued at $1,145,958.40. This represents a 38.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares in the company, 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. In the last quarter, insiders have sold 42,156 shares of company stock valued at $10,926,922.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLUT. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Truist Financial reduced their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Barclays dropped their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, BTIG Research cut their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment has an average rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Stock Down 2.7%

FLUT stock traded down $6.62 on Wednesday, hitting $240.27. 1,773,744 shares of the company's stock were exchanged, compared to its average volume of 1,867,480. The firm has a 50 day moving average price of $234.56 and a two-hundred day moving average price of $254.40. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. The stock has a market cap of $42.45 billion and a P/E ratio of 83.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued 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 business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. Flutter Entertainment's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, equities research analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

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.