Lighthouse Investment Partners LLC Increases Holdings in Flutter Entertainment plc (NYSE:FLUT)

Lighthouse Investment Partners LLC lifted its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 31.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,394 shares of the company's stock after buying an additional 11,275 shares during the period. Lighthouse Investment Partners LLC's holdings in Flutter Entertainment were worth $12,249,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $239,306,000. DJE Kapital AG bought a new stake in Flutter Entertainment in the 4th quarter worth approximately $442,000. Benson Investment Management Company Inc. purchased a new stake in Flutter Entertainment during the 4th quarter valued at $5,116,000. Bank of New York Mellon Corp raised its stake in Flutter Entertainment by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock valued at $51,642,000 after buying an additional 81,101 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Flutter Entertainment by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company's stock valued at $170,913,000 after buying an additional 38,800 shares during the period.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 2,315 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the transaction, the chief executive officer now owns 73,947 shares in the company, valued at $18,006,094.50. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 completion of the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,156 shares of company stock worth $10,926,922 over the last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $3.72 on Thursday, reaching $244.33. 1,125,636 shares of the company's stock traded hands, compared to its average volume of 1,861,056. The stock has a 50-day simple moving average of $233.26 and a 200-day simple moving average of $253.78. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The firm has a market cap of $43.17 billion and a PE ratio of 84.54. The company has a quick ratio of 0.89, a current 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 (EPS) for the quarter, missing the consensus estimate 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 business 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 business posted $0.10 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial cut their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company 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 for the company in a research note on Thursday, May 8th. JMP Securities lowered their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $310.00 price objective on shares of Flutter Entertainment in a report on Thursday, May 8th. Finally, Benchmark restated a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently 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.