Independence Bank of Kentucky Increases Position in Flutter Entertainment PLC $FLUT

Independence Bank of Kentucky grew its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 440.5% during the first quarter, Holdings Channel reports. The firm owned 18,000 shares of the company’s stock after acquiring an additional 14,670 shares during the quarter. Independence Bank of Kentucky’s holdings in Flutter Entertainment were worth $1,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FLUT. Norges Bank acquired a new stake in Flutter Entertainment during the 4th quarter worth approximately $694,009,000. Peregrine Capital Management LLC boosted its position in Flutter Entertainment by 34.2% in the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after buying an additional 38,469 shares during the period. Capricorn Fund Managers Ltd acquired a new position in shares of Flutter Entertainment in the first quarter worth $3,670,000. Hudson Bay Capital Management LP increased its position in shares of Flutter Entertainment by 6.2% during the third quarter. Hudson Bay Capital Management LP now owns 395,120 shares of the company’s stock worth $100,360,000 after acquiring an additional 23,237 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in shares of Flutter Entertainment by 5.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after acquiring an additional 20,203 shares during the period.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of recent research reports. Moffett Nathanson lowered Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price for the company. in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Barclays boosted their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC cut their target price on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.83.

Insider Transactions at Flutter Entertainment

In related news, Director Carolan Lennon sold 439 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the sale, the director directly owned 1,688 shares of the company’s stock, valued at $159,735.44. The trade was a 20.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the transaction, the chief executive officer owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This represents a 3.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by insiders.

Flutter Entertainment Stock Up 0.0%

Flutter Entertainment stock traded up $0.05 during mid-day trading on Friday, hitting $110.84. The company had a trading volume of 1,277,159 shares, compared to its average volume of 2,487,562. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The business has a fifty day moving average of $102.00 and a 200 day moving average of $128.89. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of -51.80, a PEG ratio of 1.43 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $1.59 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts expect that Flutter Entertainment PLC will post 5 earnings per share for the current fiscal year.

Flutter Entertainment Company Profile

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.