Voya Investment Management LLC Grows Stake in Flutter Entertainment plc (NYSE:FLUT)

Voya Investment Management LLC increased its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 204.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,020 shares of the company's stock after buying an additional 4,715 shares during the quarter. Voya Investment Management LLC's holdings in Flutter Entertainment were worth $1,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its position in shares of Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after acquiring an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. grew its stake in Flutter Entertainment by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after purchasing an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd acquired a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $2,146,227,000. Norges Bank bought a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $946,681,000. Finally, FMR LLC boosted its holdings in shares of Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after buying an additional 25,422 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLUT. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Wells Fargo & Company upped their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. UBS Group lifted their target price on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $310.00 price target on shares of Flutter Entertainment in a research note on Thursday. 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, the stock has a consensus rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Trading Down 2.7 %

Flutter Entertainment stock traded down $6.43 during trading hours on Friday, reaching $234.76. 1,691,383 shares of the company's stock were exchanged, compared to its average volume of 1,864,072. The firm has a market capitalization of $41.49 billion and a PE ratio of 1,067.09. 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's 50 day simple moving average is $234.03 and its 200 day simple moving average is $253.56. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). The company 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%. Flutter Entertainment's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. Research analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were 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 $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares of the company's stock, valued at $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.

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.