Delta Global Management LP Acquires New Position in Flutter Entertainment PLC $FLUT

Delta Global Management LP bought a new position in Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, Holdings Channel reports. The institutional investor bought 14,326 shares of the company’s stock, valued at approximately $1,461,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FLUT. Zions Bancorporation National Association UT grew its position in Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. EFG International AG purchased a new position in shares of Flutter Entertainment during the fourth quarter worth approximately $36,000. IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Finally, LM Advisors LLC purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at $46,000.

Analysts Set New Price Targets

Several research firms recently commented on FLUT. Needham & Company LLC reduced their target price on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Freedom Capital upgraded shares of Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective on the stock. in a report on Friday, April 24th. Finally, Oppenheimer lowered their target price on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Daniel Mark Taylor acquired 1,611 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the acquisition, the chief executive officer owned 34,584 shares in the company, valued at $3,260,925.36. This represents a 4.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Don H. Liu acquired 1,459 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the completion of the transaction, the insider owned 22,265 shares in the company, valued at approximately $2,288,396.70. The trade was a 7.01% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 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 $101.47 on Monday. The stock has a market capitalization of $17.65 billion, a price-to-earnings ratio of -47.42, a PEG ratio of 1.39 and a beta of 1.31. The firm’s 50-day moving average price is $103.43 and its two-hundred day moving average price is $120.26. 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 12-month low of $91.52 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. As a group, equities analysts predict that Flutter Entertainment PLC will post 4.72 earnings per share for the current year.

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.