Voloridge Investment Management LLC Buys 45,248 Shares of Flutter Entertainment plc (NYSE:FLUT)

Voloridge Investment Management LLC increased its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 95.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,441 shares of the company's stock after buying an additional 45,248 shares during the period. Voloridge Investment Management LLC owned 0.05% of Flutter Entertainment worth $23,891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLUT. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. BOCHK Asset Management Ltd purchased a new position in shares of Flutter Entertainment in the 4th quarter worth $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Flutter Entertainment in the 4th quarter worth $26,000. Finally, IFP Advisors Inc increased its holdings in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after buying an additional 83 shares during the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of analyst reports. Benchmark reiterated a "buy" rating and issued a $300.00 price target on shares of Flutter Entertainment in a research report on Monday, April 21st. Wells Fargo & Company raised their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Susquehanna cut their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research report on Wednesday, March 5th. Truist Financial decreased their price target on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, BTIG Research dropped their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $306.28.

Insider Buying and Selling

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This trade represents a 54.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James Philip Bishop sold 3,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. The trade was a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,156 shares of company stock valued at $10,926,922 over the last three months.

Flutter Entertainment Trading Up 1.2%

Shares of Flutter Entertainment stock traded up $2.79 on Tuesday, hitting $243.77. 655,839 shares of the company traded hands, compared to its average volume of 1,873,111. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a market cap of $43.07 billion and a PE ratio of 84.33. The stock's 50 day moving average price is $234.75 and its 200-day moving average price is $254.64. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

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

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.