Zurcher Kantonalbank Zurich Cantonalbank Has $24.06 Million Stock Position in Flutter Entertainment PLC (NYSE:FLUT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 14.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,986 shares of the company's stock after buying an additional 14,003 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Flutter Entertainment worth $24,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLUT. Parvus Asset Management Europe Ltd acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth $2,146,227,000. Invesco Ltd. acquired a new position in Flutter Entertainment in the fourth quarter valued at about $621,680,000. Lone Pine Capital LLC acquired a new position in Flutter Entertainment in the fourth quarter valued at about $494,291,000. Capital World Investors raised its stake in Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Flutter Entertainment by 49,470.4% in the fourth quarter. First Trust Advisors LP now owns 572,042 shares of the company's stock valued at $147,851,000 after purchasing an additional 570,888 shares in the last quarter.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $306.30 on Tuesday. The stock has a market cap of $54.12 billion and a P/E ratio of 105.99. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock's 50-day moving average is $272.90 and its 200-day moving average is $257.71. Flutter Entertainment PLC has a 1-year low of $175.59 and a 1-year high of $309.77.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on FLUT. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. Canaccord Genuity Group began coverage on Flutter Entertainment in a research note on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price target for the company. Needham & Company LLC boosted their price target on Flutter Entertainment from $310.00 to $340.00 and gave the company a "buy" 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. Finally, BTIG Research decreased their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $322.10.

Insider Activity at Flutter Entertainment

In related news, Director Carolan Lennon sold 430 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 value of $105,655.30. Following the transaction, the director directly owned 769 shares of the company's stock, valued at $188,950.99. The trade was a 35.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Holly K. Koeppel sold 267 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total value of $65,511.12. Following the completion of the transaction, the director directly owned 2,556 shares in the company, valued at approximately $627,140.16. This represents a 9.46% 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 valued at $1,894,934.

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.

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