Virtu Financial LLC Acquires Shares of 1,661 Flutter Entertainment PLC (NYSE:FLUT)

Virtu Financial LLC acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,661 shares of the company's stock, valued at approximately $368,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC lifted its holdings in Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Flutter Entertainment in the fourth quarter worth about $33,000. TD Waterhouse Canada Inc. purchased a new position in shares of Flutter Entertainment in the fourth quarter worth about $36,000. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after buying an additional 56 shares in the last quarter.

Flutter Entertainment Trading Down 1.4%

NYSE FLUT opened at $289.52 on Friday. The firm has a 50 day simple moving average of $286.69 and a 200-day simple moving average of $260.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The firm has a market cap of $50.98 billion, a price-to-earnings ratio of 142.62, a PEG ratio of 1.22 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The company's revenue was up 16.0% on a year-over-year basis. Equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Carolan Lennon sold 430 shares of the firm's 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 $105,655.30. Following the completion of the transaction, the director owned 769 shares of the company's stock, valued at approximately $188,950.99. This trade represents a 35.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares of the company's stock, valued at $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,642 shares of company stock valued at $5,490,473. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. Finally, Bank of America raised their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $328.62.

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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