Flutter Entertainment plc (NYSE:FLUT) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,806 shares of the company's stock after acquiring an additional 1,216 shares during the quarter. Rhumbline Advisers' holdings in Flutter Entertainment were worth $5,274,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its position in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after buying an additional 82 shares during the last quarter. Parallel Advisors LLC boosted its position in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the last quarter. IFP Advisors Inc boosted its position in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $33,000.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the sale, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. This trade represents a 38.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Atif Rafiq sold 265 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $244.18, for a total value of $64,707.70. Following the completion of the sale, the director now directly owns 2,474 shares of the company's stock, valued at $604,101.32. This trade represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,770 shares of company stock valued at $1,894,934.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $301.00 target price on shares of Flutter Entertainment in a research report on Thursday. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Wells Fargo & Company upped their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Truist Financial lowered their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC restated a "buy" rating and issued a $310.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $303.79.

Flutter Entertainment Price Performance

NYSE FLUT traded up $5.55 during mid-day trading on Monday, hitting $270.16. The stock had a trading volume of 2,124,236 shares, compared to its average volume of 1,897,147. The firm's 50 day moving average is $243.22 and its 200 day moving average is $253.38. Flutter Entertainment plc has a twelve month low of $175.59 and a twelve month high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $47.73 billion and a price-to-earnings ratio of 93.48.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted 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 negative net margin of 6.86% and a negative return on equity of 4.52%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

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.