Bessemer Group Inc. Increases Stake in Flutter Entertainment PLC $FLUT

Bessemer Group Inc. raised its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.6% during the first quarter, Holdings Channel.com reports. The fund owned 382,161 shares of the company’s stock after purchasing an additional 6,180 shares during the quarter. Bessemer Group Inc.’s holdings in Flutter Entertainment were worth $38,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $405,000. Creative Planning bought a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Flutter Entertainment by 246.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after acquiring an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Flutter Entertainment by 74.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after acquiring an additional 106 shares during the period.

Insider Activity

In related news, COO James Philip Bishop purchased 1,000 shares of the stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $99.75 per share, with a total value of $99,750.00. Following the transaction, the chief operating officer directly owned 17,605 shares in the company, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the transaction, the chief executive officer owned 74,326 shares in the company, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Down 1.4%

FLUT stock opened at $106.73 on Friday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market cap of $18.57 billion, a PE ratio of -49.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The business has a 50 day moving average of $102.66 and a 200 day moving average of $124.98.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts forecast that Flutter Entertainment PLC will post 4.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FLUT. Oppenheimer decreased their target price on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Barclays upped their price target on Flutter Entertainment from $150.00 to $151.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Sanford C. Bernstein decreased their price objective on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. BTIG Research decreased their price objective on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Susquehanna lowered their price objective on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.83.

About Flutter Entertainment

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.