Mudita Advisors LLP Raises Stake in Flutter Entertainment plc (NYSE:FLUT)

Mudita Advisors LLP raised its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 159.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,709 shares of the company's stock after buying an additional 11,500 shares during the period. Flutter Entertainment comprises 2.7% of Mudita Advisors LLP's holdings, making the stock its 12th biggest holding. Mudita Advisors LLP's holdings in Flutter Entertainment were worth $4,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FLUT. Harbour Capital Advisors LLC purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $505,000. Benson Investment Management Company Inc. purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $5,116,000. SeaCrest Wealth Management LLC bought a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $390,000. Park Avenue Securities LLC purchased a new stake in Flutter Entertainment during the fourth quarter valued at approximately $669,000. Finally, Ritholtz Wealth Management lifted its position in Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock valued at $446,000 after acquiring an additional 59 shares during the last quarter.

Flutter Entertainment Trading Up 2.1%

Shares of FLUT stock traded up $5.13 during trading on Friday, hitting $249.23. 1,501,755 shares of the stock traded hands, compared to its average volume of 1,864,910. The firm has a market capitalization 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 firm's fifty day moving average price is $233.60 and its 200-day moving average price is $253.91. 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 released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, research analysts forecast that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FLUT. Barclays lowered their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research report on Monday, April 21st. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Needham & Company LLC restated a "buy" rating and set a $310.00 price target on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, Stifel Nicolaus cut their price target on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $306.28.

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.