Massachusetts Financial Services Co. MA Grows Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Massachusetts Financial Services Co. MA grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,230,587 shares of the company's stock after acquiring an additional 167,621 shares during the period. Massachusetts Financial Services Co. MA owned about 1.83% of Flutter Entertainment worth $715,737,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new position in Flutter Entertainment during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC grew its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position 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 worth $26,000 after purchasing an additional 110 shares during the period. Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after buying an additional 60 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Flutter Entertainment in the 4th quarter worth approximately $33,000.

Flutter Entertainment Price Performance

FLUT traded up $3.10 during trading on Wednesday, hitting $296.51. 1,850,835 shares of the company traded hands, compared to its average volume of 2,103,481. The company has a market cap of $52.39 billion and a PE ratio of 102.60. The stock's 50-day simple moving average is $263.39 and its two-hundred day simple moving average is $255.04. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the business earned $0.10 EPS. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLUT has been the subject of several recent analyst reports. Canaccord Genuity Group initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, June 25th. They set a "buy" rating and a $330.00 price objective for the company. Macquarie reaffirmed an "outperform" rating and issued a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 target price on the stock. Barclays decreased their price target on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $315.81.

Insider Buying and Selling

In related news, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the sale, the director owned 5,956 shares in the company, valued at $1,463,448.76. This trade represents a 6.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $105,655.30. Following the sale, the director directly owned 769 shares of the company's stock, valued at $188,950.99. This represents a 35.86% 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 90 days.

About Flutter Entertainment

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.