Financiere des Professionnels Fonds d investissement inc. Makes New Investment in Flutter Entertainment PLC $FLUT

Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,600 shares of the company’s stock, valued at approximately $673,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the period. Zions Bancorporation National Association UT raised its stake in Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. EFG International AG acquired a new stake in Flutter Entertainment during the fourth quarter worth about $36,000. IFP Advisors Inc lifted its holdings in Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLUT. Oppenheimer decreased their target price on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Wells Fargo & Company raised their price target on Flutter Entertainment from $161.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Freedom Capital upgraded Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Finally, Barclays upped their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.83.

Insider Transactions at Flutter Entertainment

In related news, Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the sale, the director directly owned 1,688 shares in the company, valued at $159,735.44. This trade represents a 20.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Flutter Entertainment stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the sale, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. The trade was 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 acquired 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. 0.13% of the stock is owned by insiders.

Flutter Entertainment Price Performance

NYSE FLUT opened at $106.73 on Friday. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of -49.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The company has a 50-day moving average price of $102.66 and a two-hundred day moving average price of $124.98.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 earnings per share. Analysts forecast that Flutter Entertainment PLC will post 4.96 EPS for the current year.

Flutter Entertainment 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.