Investment Management Corp of Ontario Increases Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Investment Management Corp of Ontario increased its position in Flutter Entertainment plc (NYSE:FLUT) by 39.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,217 shares of the company’s stock after purchasing an additional 2,317 shares during the quarter. Investment Management Corp of Ontario’s holdings in Flutter Entertainment were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FLUT. Harvest Fund Management Co. Ltd purchased a new position in shares of Flutter Entertainment in the fourth quarter valued at $25,000. Farther Finance Advisors LLC boosted its stake in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the period. BOCHK Asset Management Ltd purchased a new position in shares of Flutter Entertainment in the fourth quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Flutter Entertainment in the fourth quarter valued at $26,000. Finally, IFP Advisors Inc boosted its stake in shares of Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after purchasing an additional 83 shares during the period.

Flutter Entertainment Trading Down 2.7%

Flutter Entertainment stock opened at $234.76 on Monday. The firm’s 50-day moving average is $234.03 and its 200-day moving average is $253.74. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The company has a market cap of $41.48 billion and a P/E ratio of 81.23.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLUT. Barclays decreased their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday. Benchmark reiterated a “buy” rating and set a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Macquarie reiterated an “outperform” rating and set a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $306.28.

Flutter Entertainment Company Profile

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.