Flutter Entertainment PLC $FLUT Stock Holdings Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 33,988.7% in the first quarter, Holdings Channel.com reports. The fund owned 5,605,543 shares of the company’s stock after buying an additional 5,589,099 shares during the quarter. Hsbc Holdings PLC’s holdings in Flutter Entertainment were worth $575,185,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Flutter Entertainment during the first quarter worth $135,000. Y Intercept Hong Kong Ltd boosted its position in shares of Flutter Entertainment by 121.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 62,572 shares of the company’s stock valued at $6,379,000 after purchasing an additional 34,367 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock worth $6,530,000 after purchasing an additional 22,270 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Flutter Entertainment by 6.7% in the 1st quarter. IFM Investors Pty Ltd now owns 37,960 shares of the company’s stock worth $3,870,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new stake in Flutter Entertainment during the 1st quarter worth about $3,670,000.

Flutter Entertainment Stock Down 1.4%

Shares of Flutter Entertainment stock opened at $106.73 on Friday. The stock has a 50-day moving average price of $102.66 and a 200 day moving average price of $124.98. The company has a market cap of $18.57 billion, a P/E ratio of -49.87, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping 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 firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company posted $1.59 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts expect that Flutter Entertainment PLC will post 4.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Daniel Mark Taylor purchased 1,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the acquisition, the chief executive officer owned 34,584 shares in the company, valued at $3,260,925.36. This trade represents a 4.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Don H. Liu sold 1,259 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the transaction, the insider directly owned 21,006 shares in the company, valued at $1,961,330.22. The trade was a 5.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citizens Jmp reduced their price objective on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Truist Financial dropped their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a report on Friday, May 8th. Wedbush restated an “outperform” rating and issued a $138.00 price target on shares of Flutter Entertainment in a research report on Friday. Finally, BNP Paribas Exane initiated coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective for the company. Two 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target 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.