Parvus Asset Management Jersey Ltd acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,191,321 shares of the company's stock, valued at approximately $1,552,097,267,000. Flutter Entertainment accounts for 100.0% of Parvus Asset Management Jersey Ltd's portfolio, making the stock its biggest position. Parvus Asset Management Jersey Ltd owned about 8.75% of Flutter Entertainment at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock valued at $290,000 after purchasing an additional 69 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Flutter Entertainment during the second quarter worth about $405,000. Creative Planning acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $296,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company's stock valued at $53,000 after acquiring an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Flutter Entertainment by 74.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company's stock valued at $71,000 after purchasing an additional 106 shares in the last quarter.
Wall Street Analyst Weigh In
A number of analysts recently commented on FLUT shares. Jefferies Financial Group reiterated a "buy" rating and issued a $180.00 target price on shares of Flutter Entertainment in a report on Sunday, August 9th. Truist Financial reduced their price objective on Flutter Entertainment from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Benchmark decreased their target price on Flutter Entertainment from $132.00 to $113.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Barclays reduced their target price on Flutter Entertainment from $151.00 to $133.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Finally, UBS Group decreased their price target on Flutter Entertainment from $160.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $159.12.
Read Our Latest Stock Report on Flutter Entertainment
Insider Transactions at Flutter Entertainment
In other news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares of the company's stock, valued at $6,739,010.48. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.13% of the stock is owned by insiders.
Flutter Entertainment Price Performance
NYSE FLUT opened at $97.86 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $16.98 billion, a PE ratio of -22.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.28. Flutter Entertainment PLC has a 12-month low of $89.71 and a 12-month high of $309.41. The company has a 50 day moving average price of $102.64 and a two-hundred day moving average price of $106.66.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm posted $2.95 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.
About Flutter Entertainment
(
Free Report)
Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.
Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.
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