R Squared Ltd Has $494,000 Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• R Squared Ltd increased its holdings in Flutter Entertainment PLC by 669% in the 1st quarter, bringing its total ownership to 2,230 shares valued at approximately $494,000.
• Flutter Entertainment reported a net revenue of $3.67 billion for the recent quarter, exceeding analysts' expectations of $3.06 billion, despite missing EPS estimates.
• Analysts have set optimistic price targets for Flutter Entertainment, with Barclays raising its target to $350 and Canaccord Genuity initiating coverage with a $330 price target.

R Squared Ltd grew its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 669.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,230 shares of the company's stock after purchasing an additional 1,940 shares during the period. R Squared Ltd's holdings in Flutter Entertainment were worth $494,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in 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. Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment during the fourth quarter worth about $2,146,227,000. FMR LLC grew its holdings in shares of Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock worth $881,349,000 after buying an additional 25,422 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Flutter Entertainment by 5.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock worth $715,737,000 after buying an additional 167,621 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Flutter Entertainment during the fourth quarter worth about $621,680,000.

Flutter Entertainment Stock Up 0.9%

Shares of NYSE:FLUT traded up $2.63 during trading on Wednesday, reaching $307.11. 2,707,909 shares of the company traded hands, compared to its average volume of 2,320,808. The firm has a fifty day simple moving average of $280.22 and a 200 day simple moving average of $259.59. The firm has a market cap of $54.26 billion, a P/E ratio of 106.27, a price-to-earnings-growth ratio of 1.12 and a beta of 2.31. Flutter Entertainment PLC has a 1-year low of $180.07 and a 1-year high of $309.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business 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 for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLUT. Jefferies Financial Group began coverage on shares of Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price objective for the company. Needham & Company LLC lifted their price objective on Flutter Entertainment from $310.00 to $340.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Barclays reissued an "overweight" rating and set a $350.00 price objective (up from $293.00) on shares of Flutter Entertainment in a research note on Friday, July 18th. BTIG Research dropped their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Sanford C. Bernstein assumed coverage on Flutter Entertainment in a report on Wednesday, June 4th. They set a "market perform" rating and a $275.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $322.10.

Insider Buying and Selling at Flutter Entertainment

In related news, Director John A. Bryant sold 418 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the sale, the director owned 5,956 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total transaction of $64,644.10. Following the sale, the director directly owned 3,518 shares of the company's stock, valued at $858,180.92. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock worth $1,894,934 in the last 90 days.

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.