Sei Investments Co. Grows Stake in Flutter Entertainment PLC $FLUT

Sei Investments Co. increased its position in Flutter Entertainment PLC (NYSE:FLUT) by 28.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,851 shares of the company’s stock after acquiring an additional 16,682 shares during the period. Sei Investments Co.’s holdings in Flutter Entertainment were worth $7,631,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT lifted its holdings in Flutter Entertainment by 1,685.7% in 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 period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Flutter Entertainment by 83.3% during 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 during the period. EFG International AG purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $36,000. IFP Advisors Inc increased its position in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 3,084 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John A. Bryant acquired 1,950 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the transaction, the director directly owned 9,235 shares in the company, valued at approximately $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Down 0.1%

FLUT stock opened at $104.39 on Monday. 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 stock has a market cap of $18.16 billion, a P/E ratio of -48.78, a PEG ratio of 1.43 and a beta of 1.28. The business’s 50-day moving average price is $104.29 and its 200-day moving average price is $116.45.

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. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.72 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Barclays upped their target price on shares of Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. BNP Paribas Exane began coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of Flutter Entertainment in a research report on Friday, July 17th. Finally, Wells Fargo & Company dropped their price target on shares of Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.00.

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.