USS Investment Management Ltd Invests $7.43 Million in Flutter Entertainment plc (NYSE:FLUT)

USS Investment Management Ltd bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT) during the fourth quarter, Holdings Channel.com reports. The fund bought 28,771 shares of the company’s stock, valued at approximately $7,427,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC increased its holdings in Flutter Entertainment by 95.9% in the fourth quarter. Voloridge Investment Management LLC now owns 92,441 shares of the company’s stock valued at $23,891,000 after buying an additional 45,248 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Flutter Entertainment by 7.9% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 14,789 shares of the company’s stock worth $3,822,000 after acquiring an additional 1,089 shares in the last quarter. Whitebark Investors LP purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $40,534,000. Zurich Insurance Group Ltd FI raised its position in shares of Flutter Entertainment by 869.9% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 262,119 shares of the company’s stock worth $67,745,000 after acquiring an additional 235,095 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Flutter Entertainment by 151.2% during the 4th quarter. Squarepoint Ops LLC now owns 71,611 shares of the company’s stock worth $18,508,000 after acquiring an additional 43,101 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on FLUT. Benchmark reiterated a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. BTIG Research dropped their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Truist Financial decreased their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Susquehanna cut their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research 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’s stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and an average price target of $306.28.

Insider Activity at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated 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. This trade represents a 54.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 2,315 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.50, for a total transaction of $563,702.50. Following the transaction, the chief executive officer now owns 73,947 shares in the company, valued at $18,006,094.50. The trade was a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,156 shares of company stock worth $10,926,922 over the last 90 days.

Flutter Entertainment Stock Down 2.7%

Flutter Entertainment stock opened at $240.27 on Thursday. The stock has a market capitalization of $42.45 billion and a price-to-earnings ratio of 83.14. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $234.62 and a two-hundred day moving average of $254.30. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

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

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.