Marathon Partners Equity Management LLC Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Marathon Partners Equity Management LLC purchased a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,250 shares of the company's stock, valued at approximately $2,391,000. Flutter Entertainment accounts for approximately 2.1% of Marathon Partners Equity Management LLC's holdings, making the stock its 8th largest position.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in Flutter Entertainment by 58.8% during the 4th quarter. UMB Bank n.a. now owns 135 shares of the company's stock worth $35,000 after buying an additional 50 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock worth $33,000 after buying an additional 50 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock worth $236,000 after buying an additional 55 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Flutter Entertainment by 3.5% during the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock worth $446,000 after buying an additional 59 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after buying an additional 82 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Macquarie reiterated an "outperform" rating and set a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Truist Financial reduced their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $306.28.

Flutter Entertainment Stock Up 2.1%

Shares of NYSE FLUT traded up $5.13 during mid-day trading on Friday, reaching $249.23. The company had a trading volume of 1,501,755 shares, compared to its average volume of 1,868,834. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $233.96 and a two-hundred day simple moving average of $254.17. The stock has a market cap of $44.04 billion and a P/E ratio of 86.24. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results 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 company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same period last year, the business earned $0.10 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,156 shares of company stock valued at $10,926,922.

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.