Parvus Asset Management Jersey Ltd Invests $1,552.10 Billion in Flutter Entertainment PLC $FLUT

Parvus Asset Management Jersey Ltd bought a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 15,191,321 shares of the company’s stock, valued at approximately $1,552,097,267,000. Flutter Entertainment comprises approximately 100.0% of Parvus Asset Management Jersey Ltd’s investment portfolio, making the stock its biggest holding. Parvus Asset Management Jersey Ltd owned 0.09% of Flutter Entertainment at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FLUT. Capital International Investors raised its holdings in Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after acquiring an additional 4,782,302 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $1,678,841,000. Caledonia Private Investments Pty Ltd lifted its position in shares of Flutter Entertainment by 3.8% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock worth $1,546,538,000 after buying an additional 264,856 shares during the period. Hsbc Holdings PLC boosted 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 buying an additional 5,589,099 shares in the last quarter. Finally, Tiger Global Management LLC raised its stake in Flutter Entertainment by 9.4% during the fourth quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock worth $860,922,000 after acquiring an additional 345,350 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total transaction of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares of the company’s stock, valued at $6,739,010.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.13% of the company’s stock.

Flutter Entertainment Trading Down 4.1%

FLUT opened at $97.86 on Thursday. Flutter Entertainment PLC has a fifty-two week low of $89.71 and a fifty-two week high of $309.41. The company has a market cap of $16.98 billion, a price-to-earnings ratio of -22.76, a price-to-earnings-growth ratio of 2.59 and a beta of 1.28. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $102.64 and a 200 day simple moving average of $106.66.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current year.

Analyst Ratings Changes

FLUT has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen downgraded Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Benchmark decreased their price target on Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft set a $148.00 price objective on Flutter Entertainment in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $159.12.

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.