Sowell Financial Services LLC Buys New Position in Flutter Entertainment PLC (NYSE:FLUT)

Sowell Financial Services LLC bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,699 shares of the company's stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLUT. Parvus Asset Management Europe Ltd bought a new position in Flutter Entertainment in the 4th quarter valued at about $2,146,227,000. Norges Bank bought a new position in Flutter Entertainment in the 4th quarter valued at about $946,681,000. Invesco Ltd. bought a new position in Flutter Entertainment in the 4th quarter valued at about $621,680,000. Lone Pine Capital LLC bought a new position in Flutter Entertainment in the 4th quarter valued at about $494,291,000. Finally, Capital World Investors grew its position in Flutter Entertainment by 11.9% in the 4th 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.

Insider Buying and Selling

In other Flutter Entertainment news, Director Atif Rafiq sold 265 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $244.18, for a total transaction of $64,707.70. Following the transaction, the director now owns 2,474 shares in the company, valued at $604,101.32. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nancy Cruickshank sold 281 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $69,044.51. Following the transaction, the director now owns 1,797 shares in the company, valued at approximately $441,540.87. This trade represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,770 shares of company stock worth $1,894,934.

Flutter Entertainment Trading Down 3.1%

NYSE:FLUT opened at $263.94 on Friday. The stock's 50 day moving average price is $246.14 and its 200 day moving average price is $253.48. Flutter Entertainment PLC has a 52 week low of $175.59 and a 52 week high of $299.73. The company has a market capitalization of $46.63 billion and a P/E ratio of 91.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The company's quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FLUT. Peel Hunt raised shares of Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Benchmark reissued a "buy" rating and issued a $300.00 price target on shares of Flutter Entertainment in a report on Monday, April 21st. BTIG Research cut their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Truist Financial cut their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. One investment 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $303.79.

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.

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