Scientech Research LLC Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

Scientech Research LLC purchased a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,497 shares of the company's stock, valued at approximately $1,421,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in Flutter Entertainment in the 4th quarter valued at $239,306,000. DJE Kapital AG purchased a new stake in Flutter Entertainment in the 4th quarter valued at $442,000. Bank of New York Mellon Corp raised its position in Flutter Entertainment by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock valued at $51,642,000 after purchasing an additional 81,101 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Flutter Entertainment by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company's stock worth $170,913,000 after buying an additional 38,800 shares during the last quarter. Finally, Plato Investment Management Ltd raised its position in Flutter Entertainment by 244.4% during the 4th quarter. Plato Investment Management Ltd now owns 3,265 shares of the company's stock worth $847,000 after buying an additional 2,317 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLUT. Truist Financial cut their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. 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 report on Monday, April 14th. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. UBS Group raised their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company raised their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of "Buy" and a consensus price target of $306.28.

Flutter Entertainment Trading Down 0.8%

Shares of Flutter Entertainment stock traded down $2.06 during mid-day trading on Tuesday, hitting $247.29. 1,427,951 shares of the stock were exchanged, compared to its average volume of 1,867,855. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The stock has a market capitalization of $43.69 billion and a price-to-earnings ratio of 85.57. The company has a 50-day simple moving average of $234.25 and a 200 day simple moving average of $254.45. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (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 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%. Flutter Entertainment's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. Research analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Activity at Flutter Entertainment

In other news, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the transaction, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. The trade was a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated 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 sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,156 shares of company stock worth $10,926,922.

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.