Deutsche Bank AG Increases Holdings in Flutter Entertainment plc (NYSE:FLUT)

Deutsche Bank AG increased its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,215,272 shares of the company’s stock after purchasing an additional 72,387 shares during the quarter. Deutsche Bank AG owned 0.68% of Flutter Entertainment worth $314,087,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Flutter Entertainment during the fourth quarter worth about $239,306,000. DJE Kapital AG purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at approximately $442,000. Benson Investment Management Company Inc. acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at $5,116,000. Bank of New York Mellon Corp grew its position in 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 buying an additional 81,101 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Flutter Entertainment by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock valued at $170,913,000 after buying an additional 38,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FLUT shares. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price objective on shares of Flutter Entertainment in a report on Thursday. Stifel Nicolaus reduced their target price on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. UBS Group increased their target price on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Truist Financial cut their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $306.28.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $241.41 on Friday. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average price of $234.64 and a 200 day moving average price of $253.37. The stock has a market capitalization of $42.67 billion and a P/E ratio of 1,097.31.

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

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred on 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 completion of the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were 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 owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.