TD Asset Management Inc Has $7.08 Million Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• TD Asset Management Inc increased its stock holdings in Flutter Entertainment PLC by 4.1%, totaling 31,938 shares valued at approximately $7.08 million.
• Flutter Entertainment's shares are rated as a Moderate Buy by analysts, with an average price target of $322.10.
• Insider activity included sales by directors, with a total of 7,770 shares sold over the past three months, valued at nearly $1.9 million.

TD Asset Management Inc lifted its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,938 shares of the company's stock after buying an additional 1,244 shares during the period. TD Asset Management Inc's holdings in Flutter Entertainment were worth $7,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment during the fourth quarter valued at approximately $2,146,227,000. Invesco Ltd. bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at $621,680,000. Lone Pine Capital LLC purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth $494,291,000. Capital World Investors raised its holdings in Flutter Entertainment by 11.9% in the 4th 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. Finally, First Trust Advisors LP raised its holdings in Flutter Entertainment by 49,470.4% in the 4th quarter. First Trust Advisors LP now owns 572,042 shares of the company's stock worth $147,851,000 after purchasing an additional 570,888 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the sale, the director owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alfred F. Hurley, Jr. sold 265 shares of Flutter Entertainment stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $243.94, for a total transaction of $64,644.10. Following the completion of the transaction, the director directly owned 3,518 shares of the company's stock, valued at $858,180.92. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,770 shares of company stock valued at $1,894,934.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 target price on the stock. Truist Financial upped their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Citizens Jmp lowered their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Barclays reiterated an "overweight" rating and set a $350.00 target price (up previously from $293.00) on shares of Flutter Entertainment in a research report on Friday, July 18th. Finally, Canaccord Genuity Group started coverage on Flutter Entertainment in a report on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $322.10.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded down $0.79 during midday trading on Tuesday, reaching $303.12. 974,196 shares of the company were exchanged, compared to its average volume of 2,311,912. The firm's 50-day simple moving average is $279.02 and its 200-day simple moving average is $259.27. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $53.56 billion, a price-to-earnings ratio of 104.89, a P/E/G ratio of 1.11 and a beta of 2.31. Flutter Entertainment PLC has a 1 year low of $180.07 and a 1 year high of $309.77.

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 for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current 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.