Man Group plc Grows Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Man Group plc grew its holdings in Flutter Entertainment plc (NYSE:FLUT) by 62.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,504 shares of the company’s stock after purchasing an additional 22,865 shares during the quarter. Man Group plc’s holdings in Flutter Entertainment were worth $15,379,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of FLUT. Capital World Investors raised its position in shares of Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. raised its position in shares of Flutter Entertainment by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after buying an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at approximately $2,146,227,000. Norges Bank purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at approximately $946,681,000. Finally, FMR LLC raised its position in shares of Flutter Entertainment by 0.8% during the 4th quarter. FMR LLC now owns 3,401,092 shares of the company’s stock valued at $881,349,000 after buying an additional 25,422 shares during the period.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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. The trade was a 15.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction 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 approximately $5,539,930.08. This trade represents a 54.20% 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 valued at $10,926,922 over the last ninety days.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $249.23 on Friday. The stock has a market cap of $44.04 billion and a P/E ratio of 86.24. The company has a fifty day simple moving average of $233.96 and a 200-day simple moving average of $254.17. 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 released its quarterly earnings data 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 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%. Flutter Entertainment’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. Equities analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLUT has been the topic of several analyst reports. Susquehanna reduced their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Macquarie reaffirmed an “outperform” rating and set a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Truist Financial dropped their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 target price on shares of Flutter Entertainment in a report on Thursday, May 8th. Finally, UBS Group lifted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, 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.