OMERS ADMINISTRATION Corp Invests $324,000 in Flutter Entertainment plc (NYSE:FLUT)

OMERS ADMINISTRATION Corp purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,255 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Parvus Asset Management Europe Ltd acquired a new position in Flutter Entertainment in the 4th quarter valued at approximately $2,146,227,000. Norges Bank acquired a new stake in Flutter Entertainment in the fourth quarter worth $946,681,000. Invesco Ltd. acquired a new stake in Flutter Entertainment in the fourth quarter worth $621,680,000. Lone Pine Capital LLC bought a new position in shares of Flutter Entertainment in the fourth quarter valued at $494,291,000. Finally, Capital World Investors lifted its stake 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 buying an additional 1,635,241 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $249.16 on Tuesday. The stock has a 50-day simple moving average of $234.25 and a 200-day simple moving average of $254.45. 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 stock has a market capitalization of $44.02 billion and a PE ratio of 86.21. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted 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). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on FLUT shares. Wells Fargo & Company lifted their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Benchmark restated a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Susquehanna lowered their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. JMP Securities reduced their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group increased their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Buy" and an average price target of $306.28.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 2,315 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer now owns 73,947 shares of the company's stock, valued at approximately $18,006,094.50. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,156 shares of company stock worth $10,926,922.

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.

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