Flutter Entertainment plc (NYSE:FLUT) Shares Purchased by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lifted its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 869.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 262,119 shares of the company's stock after acquiring an additional 235,095 shares during the quarter. Zurich Insurance Group Ltd FI owned 0.15% of Flutter Entertainment worth $67,745,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Squarepoint Ops LLC lifted its holdings in shares of Flutter Entertainment by 151.2% in the 4th quarter. Squarepoint Ops LLC now owns 71,611 shares of the company's stock worth $18,508,000 after acquiring an additional 43,101 shares during the last quarter. Twinbeech Capital LP acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $7,013,000. Tidal Investments LLC acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $661,000. State of Wyoming lifted its holdings in shares of Flutter Entertainment by 19.1% in the 4th quarter. State of Wyoming now owns 536 shares of the company's stock worth $139,000 after acquiring an additional 86 shares during the last quarter. Finally, Scientech Research LLC acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $1,421,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLUT. Needham & Company LLC reaffirmed a "buy" rating and set a $310.00 target price on shares of Flutter Entertainment in a research note on Thursday, May 8th. Citizens Jmp cut their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. BTIG Research cut their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Susquehanna cut their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research note on Monday, April 21st. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Stock Up 1.3%

Shares of NYSE:FLUT traded up $3.15 during trading hours on Friday, reaching $241.32. The stock had a trading volume of 1,188,062 shares, compared to its average volume of 1,877,713. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The firm's 50 day moving average is $234.76 and its 200-day moving average is $254.58. 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 has a market capitalization of $42.64 billion and a price-to-earnings ratio of 83.50.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS 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 during the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO James Philip Bishop sold 3,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief operating officer now owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. The trade was a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,156 shares of company stock worth $10,926,922.

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.