Flutter Entertainment PLC (NYSE:FLUT) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the SEC. 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 quarter.

Other large investors also recently added to or reduced their stakes in the company. Parvus Asset Management Europe Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $2,146,227,000. Norges Bank acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $946,681,000. Invesco Ltd. acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $621,680,000. Lone Pine Capital LLC purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $494,291,000. Finally, Capital World Investors grew its holdings in shares of Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares during the period.

Flutter Entertainment Stock Up 0.7%

NYSE:FLUT traded up $2.13 during mid-day trading on Friday, hitting $306.92. The stock had a trading volume of 1,322,615 shares, compared to its average volume of 2,106,981. The stock has a 50-day simple moving average of $264.66 and a two-hundred day simple moving average of $255.36. The company has a market capitalization of $54.23 billion and a PE ratio of 106.17. Flutter Entertainment PLC has a twelve month low of $175.59 and a twelve month high of $309.65. 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 (NYSE:FLUT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Transactions at Flutter Entertainment

In related news, Director John A. Bryant sold 418 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the sale, the director owned 5,956 shares of the company's stock, valued at $1,463,448.76. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Holly K. Koeppel sold 267 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 2,556 shares in the company, valued at approximately $627,140.16. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,770 shares of company stock valued at $1,894,934 over the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Flutter Entertainment in a report on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price objective for the company. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and issued a $310.00 price objective on shares of Flutter Entertainment in a report on Tuesday, June 10th. BTIG Research lowered their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus increased their target price on shares of Flutter Entertainment from $315.00 to $353.00 and gave the stock a "buy" rating in a research note on Wednesday. Two investment 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's stock. According to MarketBeat.com, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus price target of $318.52.

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.