11,270 Shares in Flutter Entertainment plc (NYSE:FLUT) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,270 shares of the company's stock, valued at approximately $2,913,000.

Several other large investors also recently modified their holdings of the company. PointState Capital LP increased its position in shares of Flutter Entertainment by 12.2% during the fourth quarter. PointState Capital LP now owns 805,201 shares of the company's stock worth $208,104,000 after buying an additional 87,605 shares during the period. Quantinno Capital Management LP increased its stake in Flutter Entertainment by 7.9% in the fourth quarter. Quantinno Capital Management LP now owns 10,776 shares of the company's stock valued at $2,785,000 after purchasing an additional 786 shares in the last quarter. Man Group plc raised its holdings in shares of Flutter Entertainment by 62.4% during the fourth quarter. Man Group plc now owns 59,504 shares of the company's stock valued at $15,379,000 after purchasing an additional 22,865 shares during the period. Noked Israel Ltd boosted its position in shares of Flutter Entertainment by 20.0% during the 4th quarter. Noked Israel Ltd now owns 60,000 shares of the company's stock worth $15,507,000 after purchasing an additional 10,000 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at about $324,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on FLUT shares. BTIG Research dropped their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Citizens Jmp reduced their price target on shares of 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 restated a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Finally, Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. 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, the stock has a consensus rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Stock Performance

FLUT traded down $1.13 during trading hours on Wednesday, hitting $245.77. The stock had a trading volume of 783,996 shares, compared to its average volume of 2,076,370. The company's fifty day simple moving average is $234.56 and its 200 day simple moving average is $254.40. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The stock has a market cap of $43.42 billion and a PE ratio of 85.04. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its 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). 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 during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was 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 filing with the SEC, which is accessible through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,156 shares of company stock worth $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.