SG Americas Securities LLC Boosts Stock Position in Flutter Entertainment plc (NYSE:FLUT)

SG Americas Securities LLC grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 2,273.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 207,205 shares of the company's stock after purchasing an additional 198,475 shares during the quarter. SG Americas Securities LLC owned approximately 0.12% of Flutter Entertainment worth $45,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd bought a new position in Flutter Entertainment in the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after acquiring an additional 83 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $33,000.

Flutter Entertainment Stock Up 0.7%

Shares of FLUT traded up $1.86 during midday trading on Wednesday, reaching $269.37. 2,222,632 shares of the stock were exchanged, compared to its average volume of 1,885,537. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $238.60 and its two-hundred day moving average is $253.71. The company has a market capitalization of $47.59 billion and a P/E ratio of 93.21.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the company posted $0.10 EPS. Flutter Entertainment's quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director now owns 559 shares of the company's stock, valued at approximately $136,463.08. This trade represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atif Rafiq sold 265 shares of the firm's stock in a transaction dated 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 approximately $604,101.32. This represents a 9.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock valued at $1,894,934 over the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLUT. UBS Group raised their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Macquarie restated an "outperform" rating and issued a $340.00 price target (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Stifel Nicolaus lowered their price target on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Truist Financial lowered their price target on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $303.79.

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.