Flutter Entertainment PLC $FLUT Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. increased its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 398,109 shares of the company’s stock after buying an additional 3,967 shares during the quarter. Bessemer Group Inc. owned about 0.23% of Flutter Entertainment worth $101,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLUT. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at about $32,000. Atlantic Union Bankshares Corp acquired a new stake in Flutter Entertainment during the third quarter valued at approximately $34,000. ORG Partners LLC boosted its holdings in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after buying an additional 43 shares in the last quarter. First Horizon Corp acquired a new position in Flutter Entertainment in the third quarter worth approximately $39,000. Finally, Allworth Financial LP increased its holdings in shares of Flutter Entertainment by 116.4% in the second quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after buying an additional 78 shares in the last quarter.

Flutter Entertainment Stock Down 2.9%

FLUT opened at $149.41 on Friday. The company has a market capitalization of $26.18 billion, a PE ratio of -114.93 and a beta of 1.88. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. Flutter Entertainment PLC has a fifty-two week low of $148.10 and a fifty-two week high of $313.68. The business has a 50-day moving average of $201.75 and a 200-day moving average of $242.89.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $1.25. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. Equities research analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Analyst Ratings Changes

FLUT has been the subject of several research reports. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 price target (down previously from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Morgan Stanley reduced their price objective on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Finally, Canaccord Genuity Group dropped their target price on shares of Flutter Entertainment from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $276.05.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.