OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $17.58 Million Position in Flutter Entertainment plc (NYSE:FLUT)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 126.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,000 shares of the company's stock after buying an additional 38,000 shares during the quarter. Flutter Entertainment comprises approximately 1.4% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings, making the stock its 13th largest position. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Flutter Entertainment were worth $17,575,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Flutter Entertainment by 585.7% in the 4th 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. Harvest Fund Management Co. Ltd purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at $25,000. BOCHK Asset Management Ltd purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment in the fourth quarter worth $26,000. Finally, IFP Advisors Inc raised its holdings in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after acquiring an additional 83 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the subject of several research reports. Macquarie reiterated an "outperform" rating and set a $340.00 price target (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. 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 research report on Wednesday, March 5th. Citizens Jmp reduced their price target on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Benchmark reissued a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Finally, UBS Group raised their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $306.28.

Flutter Entertainment Stock Performance

FLUT traded up $5.13 during trading on Friday, reaching $249.23. 1,501,755 shares of the company's stock were exchanged, compared to its average volume of 1,864,910. 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 quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $44.04 billion and a P/E ratio of 86.24. The business has a 50 day moving average price of $233.60 and a 200 day moving average price of $253.91.

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 analysts' consensus estimates of $1.89 by ($0.30). The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, analysts predict 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 on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction 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 transaction, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders 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.