Bessemer Group Inc. Has $38.96 Million Stock Holdings in Flutter Entertainment PLC $FLUT

Bessemer Group Inc. grew its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 382,161 shares of the company’s stock after purchasing an additional 6,180 shares during the period. Bessemer Group Inc. owned approximately 0.22% of Flutter Entertainment worth $38,962,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cibc World Markets Corp acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $1,678,841,000. Hsbc Holdings PLC increased its holdings in shares of Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after buying an additional 5,589,099 shares in the last quarter. Capital International Investors increased its holdings in shares of Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after buying an additional 4,782,302 shares in the last quarter. Norges Bank bought a new position in shares of Flutter Entertainment in the 4th quarter valued at $694,009,000. Finally, Durable Capital Partners LP lifted its stake in shares of Flutter Entertainment by 274.2% in the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock valued at $315,973,000 after acquiring an additional 911,507 shares during the last quarter.

Insider Activity at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the sale, the chief executive officer owned 74,326 shares of the company’s stock, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor acquired 1,611 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were 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 of the company’s stock, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Price Performance

FLUT stock opened at $106.73 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50-day simple moving average of $102.66 and a two-hundred day simple moving average of $124.98. The company has a market capitalization of $18.57 billion, a P/E ratio of -49.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. Flutter Entertainment PLC has a 52-week low of $91.52 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. Research analysts expect that Flutter Entertainment PLC will post 4.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FLUT shares. BNP Paribas Exane began coverage on Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 target price for the company. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Barclays upped their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company raised their price objective on shares of Flutter Entertainment from $161.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. Finally, Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.83.

Flutter Entertainment 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.