Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 57.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,103 shares of the company’s stock after selling 1,487 shares during the period. Park Avenue Securities LLC’s holdings in Flutter Entertainment were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FLUT. Independence Bank of Kentucky grew its stake in Flutter Entertainment by 93.1% in the 1st quarter. Independence Bank of Kentucky now owns 3,868 shares of the company’s stock worth $857,000 after acquiring an additional 1,865 shares during the period. Arthur M. Cohen & Associates LLC boosted its position in Flutter Entertainment by 20.6% during the 1st quarter. Arthur M. Cohen & Associates LLC now owns 1,845 shares of the company’s stock worth $409,000 after purchasing an additional 315 shares during the period. Harbor Investment Advisory LLC boosted its position in Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after purchasing an additional 56 shares during the period. Gunderson Capital Management Inc. purchased a new stake in Flutter Entertainment during the 1st quarter worth $2,943,000. Finally, Rhumbline Advisers lifted its holdings in Flutter Entertainment by 5.4% in the 1st quarter. Rhumbline Advisers now owns 23,806 shares of the company’s stock worth $5,274,000 after buying an additional 1,216 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In related news, Director Atif Rafiq sold 265 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $244.18, for a total transaction of $64,707.70. Following the completion of the transaction, the director now directly owns 2,474 shares of the company’s stock, valued at $604,101.32. This trade represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the transaction, the director now directly owns 5,956 shares of the company’s stock, valued at $1,463,448.76. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,770 shares of company stock valued at $1,894,934.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FLUT. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Sanford C. Bernstein began coverage on shares of Flutter Entertainment in a research report on Wednesday, June 4th. They set a “market perform” rating and a $275.00 price objective for the company. Susquehanna lowered their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $310.00 target price on shares of Flutter Entertainment in a research report on Tuesday, June 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $301.00 price objective on shares of Flutter Entertainment in a report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $303.79.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $270.16 on Tuesday. The company has a 50-day moving average of $243.22 and a 200-day moving average of $253.38. The company has a market capitalization of $47.73 billion and a price-to-earnings ratio of 93.48. Flutter Entertainment plc has a 52 week low of $175.59 and a 52 week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. Flutter Entertainment’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. As a group, equities research analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.