Maytus Capital Management LLC Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Maytus Capital Management LLC acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,500 shares of the company’s stock, valued at approximately $2,972,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at approximately $239,306,000. DJE Kapital AG purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $442,000. Benson Investment Management Company Inc. bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $5,116,000. Bank of New York Mellon Corp boosted its position in Flutter Entertainment by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock valued at $51,642,000 after acquiring an additional 81,101 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Flutter Entertainment by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock worth $170,913,000 after acquiring an additional 38,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of research analyst reports. BTIG Research reduced their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Benchmark reissued a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research report on Monday, April 21st. Truist Financial lowered their target price on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Citizens Jmp cut their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus decreased their price objective on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $306.28.

Insider Transactions at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares in the company, valued at $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 through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm’s 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $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 Price Performance

Flutter Entertainment stock opened at $247.27 on Tuesday. The business has a fifty day moving average price of $233.55 and a 200-day moving average price of $253.90. The firm has a market capitalization of $43.69 billion and a P/E ratio of 85.56. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. 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 (NYSE:FLUT) last posted 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). 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 last year, the business earned $0.10 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current year.

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.