XTX Topco Ltd Has $5.34 Million Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Key Points

• XTX Topco Ltd significantly increased its holdings in Flutter Entertainment PLC by 1,249.0% during the first quarter, ending with $5.34 million worth of shares.
• Flutter Entertainment reported a quarterly revenue of $3.67 billion, surpassing estimates, but posted an earnings per share (EPS) of $1.59, which was below the consensus estimate of $1.89.
• Equity research analysts maintain a positive outlook for Flutter Entertainment, with a consensus rating of "Moderate Buy" and an average price target of $322.10, following various recent upgrades on the stock.

XTX Topco Ltd lifted its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 1,249.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,106 shares of the company's stock after buying an additional 22,319 shares during the period. XTX Topco Ltd's holdings in Flutter Entertainment were worth $5,341,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Flutter Entertainment during the 1st quarter valued at about $1,966,000. GSA Capital Partners LLP boosted its stake in Flutter Entertainment by 37.0% during the 1st quarter. GSA Capital Partners LLP now owns 5,823 shares of the company's stock valued at $1,290,000 after purchasing an additional 1,574 shares during the period. Picton Mahoney Asset Management boosted its stake in Flutter Entertainment by 0.9% during the 1st quarter. Picton Mahoney Asset Management now owns 37,918 shares of the company's stock valued at $8,402,000 after purchasing an additional 337 shares during the period. Mackenzie Financial Corp boosted its stake in Flutter Entertainment by 21.4% during the 1st quarter. Mackenzie Financial Corp now owns 10,567 shares of the company's stock valued at $2,341,000 after purchasing an additional 1,860 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Flutter Entertainment by 14.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,986 shares of the company's stock valued at $24,063,000 after purchasing an additional 14,003 shares during the period.

Analysts Set New Price Targets

A number of research firms have issued reports on FLUT. Barclays reissued an "overweight" rating and set a $350.00 target price (up from $293.00) on shares of Flutter Entertainment in a research note on Friday, July 18th. Oppenheimer boosted their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Benchmark reaffirmed a "buy" rating and issued a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Truist Financial upped their price target on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Needham & Company LLC upped their price target on shares of Flutter Entertainment from $310.00 to $340.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $322.10.

Flutter Entertainment Trading Down 0.9%

Shares of NYSE:FLUT traded down $2.69 during mid-day trading on Friday, hitting $299.57. The stock had a trading volume of 2,003,913 shares, compared to its average volume of 1,863,023. The company's 50 day moving average is $277.77 and its 200-day moving average is $258.95. Flutter Entertainment PLC has a 12-month low of $175.59 and a 12-month high of $309.77. 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 cap of $52.93 billion, a PE ratio of 103.66, a P/E/G ratio of 1.11 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $3.06 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company's revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Activity

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the transaction, the chief operating officer directly owned 4,712 shares in the company, valued at approximately $1,145,958.40. The trade was a 38.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nancy Cruickshank sold 281 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $69,044.51. Following the transaction, the director owned 1,797 shares in the company, valued at approximately $441,540.87. The trade was a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,770 shares of company stock worth $1,894,934.

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.