Bessemer Group Inc. Raises Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Bessemer Group Inc. boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 0.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 397,297 shares of the company’s stock after acquiring an additional 2,478 shares during the quarter. Bessemer Group Inc.’s holdings in Flutter Entertainment were worth $88,021,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its stake in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after acquiring an additional 110 shares during the period. Parallel Advisors LLC boosted its holdings in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after acquiring an additional 60 shares in the last quarter. Finally, IFP Advisors Inc increased its position 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 during the period.

Insider Activity at Flutter Entertainment

In related news, Director Alfred F. Hurley, Jr. sold 265 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total transaction of $64,644.10. Following the sale, the director now directly owns 3,518 shares of the company’s stock, valued at $858,180.92. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christine M. Mccarthy sold 264 shares of Flutter Entertainment stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director now owns 559 shares of the company’s stock, valued at $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 over the last 90 days.

Wall Street Analyst Weigh In

FLUT has been the subject of several research analyst reports. Barclays dropped their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. JMP Securities restated a “market outperform” rating and issued a $301.00 price objective on shares of Flutter Entertainment in a report on Thursday, June 12th. Macquarie reiterated an “outperform” rating and set a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Benchmark reissued a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Finally, Susquehanna dropped their price target 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. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $305.10.

Flutter Entertainment Price Performance

FLUT opened at $268.00 on Thursday. The firm has a market cap of $47.35 billion and a PE ratio of 92.73. The stock has a 50-day moving average price of $248.65 and a 200-day moving average price of $253.31. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $299.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its 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). The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal 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.