USS Investment Management Ltd Buys Shares of 28,771 Flutter Entertainment plc (NYSE:FLUT)

USS Investment Management Ltd bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,771 shares of the company's stock, valued at approximately $7,427,000.

Several other hedge funds have also modified their holdings of the stock. Voloridge Investment Management LLC raised its position in Flutter Entertainment by 95.9% in the 4th quarter. Voloridge Investment Management LLC now owns 92,441 shares of the company's stock worth $23,891,000 after purchasing an additional 45,248 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in shares of Flutter Entertainment by 7.9% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 14,789 shares of the company's stock valued at $3,822,000 after buying an additional 1,089 shares during the period. Whitebark Investors LP acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at $40,534,000. Zurich Insurance Group Ltd FI raised its position in shares of Flutter Entertainment by 869.9% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 262,119 shares of the company's stock worth $67,745,000 after acquiring an additional 235,095 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Flutter Entertainment by 151.2% during the fourth quarter. Squarepoint Ops LLC now owns 71,611 shares of the company's stock valued at $18,508,000 after acquiring an additional 43,101 shares during the period.

Flutter Entertainment Trading Up 1.2%

FLUT traded up $2.79 during mid-day trading on Tuesday, hitting $243.77. The stock had a trading volume of 655,839 shares, compared to its average volume of 1,873,111. The stock's fifty day simple moving average is $234.75 and its 200-day simple moving average is $254.64. The firm has a market capitalization of $43.07 billion and a price-to-earnings ratio of 84.33. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

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). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. Flutter Entertainment's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, research analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on FLUT. Stifel Nicolaus decreased their price target on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Truist Financial cut their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Benchmark reiterated a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research report on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $310.00 price target on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment currently has an average rating of "Buy" and a consensus price target of $306.28.

Insiders Place Their Bets

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the completion of the transaction, the chief operating officer now owns 4,712 shares in the company, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,156 shares of company stock worth $10,926,922 over the last ninety days.

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.