Renaissance Technologies LLC bought a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT – Free Report) in the first quarter, Holdings Channel reports. The fund bought 397,860 shares of the company’s stock, valued at approximately $40,562,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its stake in shares of Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $1,678,841,000. Caledonia Private Investments Pty Ltd raised its stake in Flutter Entertainment by 3.8% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after purchasing an additional 264,856 shares during the last quarter. Hsbc Holdings PLC raised its stake in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after purchasing an additional 5,589,099 shares during the last quarter. Finally, Tiger Global Management LLC lifted its holdings in Flutter Entertainment by 9.4% in the 4th quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock valued at $860,922,000 after purchasing an additional 345,350 shares in the last quarter.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $138.00 target price on shares of Flutter Entertainment in a research note on Friday, July 17th. Needham & Company LLC reduced their target price on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. BTIG Research lowered their price target on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Barclays upped their price objective on shares of Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.
Flutter Entertainment Stock Up 4.4%
Shares of NYSE:FLUT opened at $105.72 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The business has a fifty day moving average of $103.60 and a two-hundred day moving average of $119.46. The stock has a market cap of $18.39 billion, a P/E ratio of -49.40, a PEG ratio of 1.39 and a beta of 1.31. Flutter Entertainment PLC has a 52-week low of $91.52 and a 52-week high of $313.68.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. On average, research analysts expect that Flutter Entertainment PLC will post 4.72 earnings per share for the current year.
Insider Transactions at Flutter Entertainment
In related news, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the completion of the sale, the insider directly owned 21,006 shares in the company, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the transaction, the director directly owned 1,688 shares in the company, valued at $159,735.44. This trade represents a 20.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company’s stock.
About Flutter Entertainment
Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.
Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.
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