PointState Capital LP Acquires 87,605 Shares of Flutter Entertainment plc (NYSE:FLUT)

PointState Capital LP increased its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 805,201 shares of the company's stock after purchasing an additional 87,605 shares during the quarter. Flutter Entertainment accounts for approximately 3.8% of PointState Capital LP's investment portfolio, making the stock its 10th largest position. PointState Capital LP owned 0.45% of Flutter Entertainment worth $208,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FLUT. Harvest Fund Management Co. Ltd bought a new stake in Flutter Entertainment during the fourth quarter worth about $25,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 during the last quarter. BOCHK Asset Management Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $26,000. Raleigh Capital Management Inc. bought a new position in Flutter Entertainment in the 4th quarter valued at approximately $26,000. Finally, IFP Advisors Inc raised its holdings 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 during the last quarter.

Insider Buying and Selling

In related news, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business'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 completion of the sale, the director now owns 21,148 shares in the company, valued at $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 ninety days, insiders have sold 42,156 shares of company stock valued at $10,926,922.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLUT. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Stifel Nicolaus decreased their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JMP Securities decreased their target price 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, Benchmark reissued a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Twenty investment 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, Flutter Entertainment has an average rating of "Buy" and a consensus price target of $306.28.

Flutter Entertainment Price Performance

FLUT opened at $248.74 on Thursday. 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 company has a market capitalization of $43.95 billion and a price-to-earnings ratio of 86.07. The firm's fifty day moving average price is $233.26 and its two-hundred day moving average price is $253.78. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share 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 analysts' expectations of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. Flutter Entertainment's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. As a group, analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share 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.

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