Royal Bank of Canada Acquires 17,594 Shares of Flutter Entertainment plc (NYSE:FLUT)

Royal Bank of Canada lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,884 shares of the company’s stock after purchasing an additional 17,594 shares during the period. Royal Bank of Canada owned 0.18% of Flutter Entertainment worth $82,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rafferty Asset Management LLC bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $2,555,000. Redwood Investments LLC boosted its position in shares of Flutter Entertainment by 7.3% during the 4th quarter. Redwood Investments LLC now owns 6,914 shares of the company’s stock valued at $1,787,000 after purchasing an additional 470 shares in the last quarter. Point72 Europe London LLP bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $19,555,000. Point72 Hong Kong Ltd bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $2,913,000. Finally, PointState Capital LP boosted its position in shares of Flutter Entertainment by 12.2% during the 4th quarter. PointState Capital LP now owns 805,201 shares of the company’s stock valued at $208,104,000 after purchasing an additional 87,605 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $249.16 on Tuesday. The business’s fifty day simple moving average is $234.25 and its 200 day simple moving average is $254.45. The firm has a market capitalization of $44.02 billion and a P/E ratio of 86.21. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

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

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This trade represents a 15.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This represents a 54.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,156 shares of company stock worth $10,926,922.

Analyst Ratings Changes

Several brokerages recently commented on FLUT. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Truist Financial cut their price target on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company increased 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. JMP Securities cut their price target on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. Finally, 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. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $306.28.

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.