Allspring Global Investments Holdings LLC Sells 150 Shares of Flutter Entertainment PLC (NYSE:FLUT)

Allspring Global Investments Holdings LLC decreased its position in Flutter Entertainment PLC (NYSE:FLUT) by 12.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,012 shares of the company’s stock after selling 150 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Flutter Entertainment were worth $222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Flutter Entertainment by 326.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock worth $742,000 after acquiring an additional 2,483 shares during the period. Whalen Wealth Management Inc. purchased a new stake in Flutter Entertainment in the first quarter worth $380,000. Rubicon Global Capital Ltd lifted its stake in Flutter Entertainment by 56.1% in the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company’s stock worth $15,564,000 after acquiring an additional 25,250 shares during the period. Bessemer Group Inc. lifted its stake in Flutter Entertainment by 0.6% in the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company’s stock worth $88,021,000 after acquiring an additional 2,478 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after acquiring an additional 67 shares during the period.

Insider Buying and Selling

In related news, Director Christine M. Mccarthy sold 264 shares of Flutter Entertainment stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director directly owned 559 shares in the company, valued at approximately $136,463.08. This trade represents a 32.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the sale, the director owned 769 shares of the company’s stock, valued at $188,950.99. The trade was a 35.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock worth $1,894,934 in the last three months.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FLUT shares. Jefferies Financial Group started coverage on Flutter Entertainment in a research note on Tuesday. They issued a “buy” rating and a $380.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price target on shares of Flutter Entertainment in a research note on Tuesday, June 10th. BTIG Research lowered their price objective on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Sanford C. Bernstein started coverage on 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. Finally, JMP Securities reissued a “market outperform” rating and set a $301.00 price objective on shares of Flutter Entertainment in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.10.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $289.98 on Friday. Flutter Entertainment PLC has a 1-year low of $175.59 and a 1-year high of $299.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day moving average price of $260.42 and a 200-day moving average price of $254.32. The company has a market capitalization of $51.24 billion and a PE ratio of 100.34.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Flutter Entertainment’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Flutter Entertainment PLC will post 4.17 EPS 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.