Whitebark Investors LP Takes $40.53 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Whitebark Investors LP acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 156,834 shares of the company's stock, valued at approximately $40,534,000. Flutter Entertainment accounts for about 18.8% of Whitebark Investors LP's investment portfolio, making the stock its 3rd largest holding. Whitebark Investors LP owned approximately 0.09% of Flutter Entertainment as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FLUT. Farther Finance Advisors LLC grew its stake in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment in the fourth quarter valued at about $25,000. BOCHK Asset Management Ltd acquired a new position in Flutter Entertainment in the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. acquired a new position in Flutter Entertainment in the fourth quarter valued at about $26,000. Finally, IFP Advisors Inc grew its stake in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after acquiring an additional 83 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction that occurred on 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 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 have sold 42,156 shares of company stock worth $10,926,922 over the last 90 days.

Flutter Entertainment Stock Up 1.3%

FLUT traded up $3.15 on Friday, hitting $241.32. 1,188,062 shares of the company were exchanged, compared to its average volume of 1,877,713. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The stock's fifty day moving average is $234.76 and its 200-day moving average is $254.58. The company has a market cap of $42.64 billion and a PE ratio of 83.50. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business 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. Equities research analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analyst Ratings Changes

FLUT has been the topic of a number of research reports. Truist Financial cut 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. Barclays cut their price target on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. UBS Group boosted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Stifel Nicolaus cut 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. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $306.28.

Flutter Entertainment Company 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.