Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Flutter Entertainment PLC $FLUT

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,700 shares of the company’s stock, valued at approximately $1,499,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $694,009,000. Peregrine Capital Management LLC raised its position in Flutter Entertainment by 34.2% in the fourth quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock worth $32,467,000 after purchasing an additional 38,469 shares in the last quarter. Capricorn Fund Managers Ltd bought a new position in Flutter Entertainment during the first quarter worth about $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Flutter Entertainment by 53.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock worth $6,530,000 after purchasing an additional 22,270 shares during the period. Finally, TimesSquare Capital Management LLC boosted its holdings in Flutter Entertainment by 5.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock valued at $85,818,000 after purchasing an additional 20,203 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on FLUT shares. BNP Paribas Exane began coverage on Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target on the stock. Moffett Nathanson cut Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective for the company. in a report on Friday, April 24th. Freedom Capital upgraded shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Truist Financial dropped their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.00.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of the stock in a transaction 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 transaction, the director directly owned 1,688 shares in the company, valued at approximately $159,735.44. This trade represents a 20.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the 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 completion of the transaction, the chief executive officer owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders purchased 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 owned by company insiders.

Flutter Entertainment Stock Up 2.2%

Shares of NYSE FLUT opened at $104.39 on Friday. Flutter Entertainment PLC has a 12-month low of $91.52 and a 12-month high of $313.68. The firm’s 50-day simple moving average is $104.29 and its 200 day simple moving average is $117.08. 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 company has a market cap of $18.16 billion, a price-to-earnings ratio of -48.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company posted $1.59 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts expect that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal 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.