Miura Global Management LLC Invests $2.58 Million in Flutter Entertainment plc (NYSE:FLUT)

Miura Global Management LLC bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,000 shares of the company's stock, valued at approximately $2,584,000. Flutter Entertainment comprises approximately 2.8% of Miura Global Management LLC's investment portfolio, making the stock its 12th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. Harbour Capital Advisors LLC acquired a new stake in Flutter Entertainment during the 4th quarter worth $505,000. Benson Investment Management Company Inc. acquired a new stake in Flutter Entertainment during the 4th quarter worth $5,116,000. SeaCrest Wealth Management LLC acquired a new stake in Flutter Entertainment during the 4th quarter worth $390,000. Park Avenue Securities LLC acquired a new stake in Flutter Entertainment during the 4th quarter worth $669,000. Finally, Ritholtz Wealth Management boosted its stake 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 purchasing an additional 59 shares during the last quarter.

Flutter Entertainment Stock Up 2.1%

Shares of Flutter Entertainment stock traded up $5.13 on Friday, reaching $249.23. 1,501,755 shares of the company were exchanged, compared to its average volume of 1,864,910. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a market cap of $44.04 billion and a P/E ratio of 86.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock's 50 day moving average price is $233.60 and its 200-day moving average price is $253.91.

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 return on equity of 4.52% and a negative net margin of 6.86%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Transactions at Flutter Entertainment

In related news, COO James Philip Bishop sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the transaction, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the business's 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 owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This represents a 15.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,156 shares of company stock valued at $10,926,922.

Analyst Ratings Changes

FLUT has been the topic of several recent research reports. JMP Securities lowered their target price 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. UBS Group lifted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Citizens Jmp reduced their price target on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Benchmark reiterated a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a report on Monday, April 21st. Finally, Susquehanna reduced their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Flutter Entertainment 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.