Sei Investments Co. Increases Holdings in Flutter Entertainment PLC $FLUT

Sei Investments Co. raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 28.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,851 shares of the company's stock after purchasing an additional 16,682 shares during the period. Sei Investments Co.'s holdings in Flutter Entertainment were worth $7,631,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. NewEdge Wealth LLC lifted its stake in Flutter Entertainment by 83.9% in the first quarter. NewEdge Wealth LLC now owns 2,595 shares of the company's stock worth $265,000 after acquiring an additional 1,184 shares during the period. ABN Amro Investment Solutions purchased a new position in shares of Flutter Entertainment during the first quarter valued at about $574,000. Oslo Pensjonsforsikring AS bought a new position in Flutter Entertainment in the first quarter worth about $238,000. Parallel Advisors LLC raised its stake in Flutter Entertainment by 489.7% in the first quarter. Parallel Advisors LLC now owns 460 shares of the company's stock worth $47,000 after buying an additional 382 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Flutter Entertainment by 7.1% in the first quarter. Swiss National Bank now owns 490,422 shares of the company's stock worth $49,999,000 after buying an additional 32,480 shares during the period.

Flutter Entertainment Price Performance

Shares of FLUT opened at $104.39 on Monday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The company has a market capitalization of $18.16 billion, a P/E ratio of -48.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The firm has a 50 day moving average of $104.29 and a 200 day moving average of $116.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.24 billion. During the same period in the prior year, the firm posted $1.59 EPS. The firm's quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

Insider Activity at Flutter Entertainment

In related news, insider Don H. Liu sold 1,259 shares of Flutter Entertainment stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the sale, the insider directly owned 21,006 shares in the company, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop acquired 1,000 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $99.75 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief operating officer directly owned 17,605 shares in the company, valued at $1,756,098.75. This represents a 6.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLUT. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $167.00 price objective on shares of Flutter Entertainment in a research report on Friday, May 8th. Needham & Company LLC dropped their price target on Flutter Entertainment from $150.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Wedbush reaffirmed an "outperform" rating and issued a $138.00 price target on shares of Flutter Entertainment in a research note on Friday, July 17th. Barclays increased their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Citizens Jmp decreased their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $176.00.

About Flutter Entertainment

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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