Stifel Financial Corp Makes New $1.40 Million Investment in Flutter Entertainment plc (NYSE:FLUT)

Stifel Financial Corp bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,422 shares of the company's stock, valued at approximately $1,401,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. boosted its position in shares of Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company's stock valued at $35,000 after purchasing an additional 50 shares during the period. Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock valued at $33,000 after purchasing an additional 50 shares during the period. Seelaus Asset Management LLC boosted its position in shares of Flutter Entertainment by 6.4% in the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock valued at $236,000 after purchasing an additional 55 shares during the period. Ritholtz Wealth Management boosted its position in shares of Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock valued at $446,000 after purchasing an additional 59 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the period.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of recent research reports. Citizens Jmp decreased their price objective 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. Truist Financial decreased their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. BTIG Research decreased their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group increased their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report 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 MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $306.28.

Insider Activity

In other news, CEO Amy Howe sold 11,814 shares of the company'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 completion of the sale, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company's 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 owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This trade represents a 54.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,156 shares of company stock worth $10,926,922.

Flutter Entertainment Stock Performance

NYSE:FLUT traded down $2.67 during trading hours on Tuesday, reaching $244.56. 427,125 shares of the stock were exchanged, compared to its average volume of 1,858,352. The stock has a market capitalization of $43.21 billion and a P/E ratio of 84.62. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 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 firm has a 50 day simple moving average of $233.55 and a 200-day simple moving average of $253.90.

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 (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 net margin of 6.86% and a negative return on equity of 4.52%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. As a group, sell-side analysts forecast that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

About Flutter Entertainment

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.