Maytus Capital Management LLC Invests $2.97 Million in Flutter Entertainment plc (NYSE:FLUT)

Maytus Capital Management LLC purchased a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,500 shares of the company's stock, valued at approximately $2,972,000.

Several other institutional investors and hedge funds have also bought and sold shares of FLUT. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $25,000. Farther Finance Advisors LLC boosted its holdings in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares in the last quarter. BOCHK Asset Management Ltd purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $26,000. Finally, IFP Advisors Inc lifted its stake in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares in the last quarter.

Analyst Ratings Changes

FLUT has been the subject of several research reports. Benchmark reaffirmed a "buy" rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Truist Financial reduced their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Macquarie restated an "outperform" rating and set a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. JMP Securities dropped their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company boosted their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $306.28.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80% 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 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 completion of the sale, the director now 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.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $247.27 on Tuesday. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a market cap of $43.69 billion and a PE ratio of 85.56. 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 business has a 50-day simple moving average of $233.55 and a two-hundred day simple moving average of $253.90.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its 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). 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 analyst estimates of $3.06 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment plc (NYSE:FLUT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.