Sylebra Capital LLC Purchases New Shares in Flutter Entertainment plc (NYSE:FLUT)

Sylebra Capital LLC bought a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,964 shares of the company's stock, valued at approximately $5,677,000. Flutter Entertainment makes up 0.2% of Sylebra Capital LLC's holdings, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares during the period. Vanguard Group Inc. boosted its position in Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock worth $2,479,812,000 after purchasing an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd bought a new position in Flutter Entertainment during the fourth quarter worth $2,146,227,000. Norges Bank bought a new position in Flutter Entertainment during the fourth quarter worth $946,681,000. Finally, FMR LLC boosted its position in 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 purchasing an additional 25,422 shares during the period.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded up $2.27 during midday trading on Thursday, reaching $249.16. The company's stock had a trading volume of 1,006,294 shares, compared to its average volume of 1,873,279. 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 business has a 50-day moving average price of $234.95 and a 200-day moving average price of $254.52. The stock has a market cap of $44.02 billion and a PE ratio of 86.21.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, sell-side analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 2,315 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer now owns 73,947 shares in the company, valued at $18,006,094.50. The trade was a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,156 shares of company stock worth $10,926,922.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLUT. Benchmark reissued a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a report on Monday, April 21st. Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and set a $310.00 target price on shares of Flutter Entertainment in a report on Thursday, May 8th. Barclays dropped their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Citizens Jmp dropped their target price on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $306.28.

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.