Whitebark Investors LP Buys New Shares in Flutter Entertainment plc (NYSE:FLUT)

Whitebark Investors LP bought a new position in Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 156,834 shares of the company’s stock, valued at approximately $40,534,000. Flutter Entertainment accounts for about 18.8% of Whitebark Investors LP’s holdings, making the stock its 3rd largest holding. Whitebark Investors LP owned about 0.09% of Flutter Entertainment at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FLUT. Jennison Associates LLC purchased a new position in Flutter Entertainment during the fourth quarter valued at $239,306,000. DJE Kapital AG bought a new position in shares of Flutter Entertainment during the 4th quarter valued at about $442,000. Bank of New York Mellon Corp grew its position in shares of Flutter Entertainment by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock valued at $51,642,000 after purchasing an additional 81,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Flutter Entertainment by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock worth $170,913,000 after purchasing an additional 38,800 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in shares of Flutter Entertainment by 244.4% in the fourth quarter. Plato Investment Management Ltd now owns 3,265 shares of the company’s stock worth $847,000 after purchasing an additional 2,317 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price target on shares of Flutter Entertainment in a research note on Thursday, May 8th. JMP Securities dropped their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. Truist Financial reduced their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus lowered their price target on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $306.28.

Flutter Entertainment Trading Up 0.1%

Shares of FLUT opened at $249.16 on Tuesday. The firm has a market capitalization of $44.02 billion and a price-to-earnings ratio of 86.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick 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 50-day moving average of $234.25 and a 200 day moving average of $254.45.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This trade represents a 54.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the transaction, the chief operating officer now directly owns 4,712 shares in the company, valued at approximately $1,145,958.40. The trade was a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,156 shares of company stock valued at $10,926,922 in the last ninety days.

Flutter Entertainment 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.