Quantinno Capital Management LP Raises Holdings in Flutter Entertainment plc (NYSE:FLUT)

Quantinno Capital Management LP lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,776 shares of the company’s stock after buying an additional 786 shares during the period. Quantinno Capital Management LP’s holdings in Flutter Entertainment were worth $2,785,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLUT. Park Avenue Securities LLC purchased a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $669,000. Ritholtz Wealth Management raised its stake in shares of Flutter Entertainment by 3.5% during the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock worth $446,000 after buying an additional 59 shares in the last quarter. Clarius Group LLC purchased a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $212,000. UMB Bank n.a. raised its stake in shares of Flutter Entertainment by 58.8% during the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after buying an additional 50 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in 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 in the last quarter.

Insider Transactions at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction on 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 sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 2,315 shares of Flutter Entertainment stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the completion of the transaction, the chief executive officer now owns 73,947 shares in the company, valued at $18,006,094.50. The trade was a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,156 shares of company stock worth $10,926,922 over the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BTIG Research dropped their price objective on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JMP Securities dropped their price objective on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, Barclays dropped their price objective on Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus price target of $306.28.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $249.16 on Tuesday. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock has a fifty day moving average of $234.25 and a two-hundred day moving average of $254.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $44.02 billion and a price-to-earnings ratio of 86.21.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data 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). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business earned $0.10 EPS. Flutter Entertainment’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Flutter Entertainment plc will post 4.17 EPS 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.