Financiere des Professionnels Fonds d investissement inc. Makes New $673,000 Investment in Flutter Entertainment PLC $FLUT

Financiere des Professionnels Fonds d investissement inc. purchased a new position in Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,600 shares of the company’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MML Investors Services LLC increased its stake in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after acquiring an additional 45 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the period. Truist Financial Corp boosted its stake in Flutter Entertainment by 2.8% during the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after purchasing an additional 72 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently commented on FLUT shares. UBS Group dropped their price objective on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Sanford C. Bernstein decreased their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC lowered their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Freedom Capital upgraded shares of Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Finally, Truist Financial cut their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Two equities 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.83.

Flutter Entertainment Price Performance

NYSE FLUT opened at $106.73 on Friday. The stock has a market capitalization of $18.57 billion, a P/E ratio of -49.87, a P/E/G ratio of 1.41 and a beta of 1.31. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The business’s fifty day moving average is $102.66 and its two-hundred day moving average is $124.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90.

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

Insider Buying and Selling at Flutter Entertainment

In other news, Director Carolan Lennon sold 439 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the completion of the sale, the director directly owned 1,688 shares of the company’s stock, valued at $159,735.44. This represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 of the company’s stock, valued at $7,293,610.38. This trade represents 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 90 days, insiders bought 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 currently owned by company insiders.

About Flutter Entertainment

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.