OMERS ADMINISTRATION Corp Makes New $324,000 Investment in Flutter Entertainment plc (NYSE:FLUT)

OMERS ADMINISTRATION Corp acquired a new stake in Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,255 shares of the company’s stock, valued at approximately $324,000.

Several other institutional investors and hedge funds have also made changes to their positions in FLUT. Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $25,000. BOCHK Asset Management Ltd acquired a new stake in Flutter Entertainment during the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment during the 4th quarter valued at approximately $26,000. Finally, IFP Advisors Inc grew its stake in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after purchasing an additional 83 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on FLUT. Susquehanna reduced their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Barclays cut their price target on Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Benchmark reissued a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a report on Monday, April 21st. Citizens Jmp cut their price target on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company raised their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $306.28.

Flutter Entertainment Stock Up 0.1%

Shares of Flutter Entertainment stock opened at $249.16 on Tuesday. The business’s fifty day moving average price is $234.25 and its two-hundred day moving average price is $254.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $44.02 billion and a P/E ratio of 86.21. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the transaction, the chief operating officer now owns 4,712 shares in the company, valued at $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. In the last ninety days, insiders have sold 42,156 shares of company stock worth $10,926,922.

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.