Assetmark Inc. Sells 16,356 Shares of Flutter Entertainment PLC $FLUT

Assetmark Inc. lessened its stake in Flutter Entertainment PLC (NYSE:FLUT) by 88.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,226 shares of the company’s stock after selling 16,356 shares during the period. Assetmark Inc.’s holdings in Flutter Entertainment were worth $227,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment in the second quarter worth approximately $405,000. Creative Planning purchased a new stake in Flutter Entertainment in the second quarter worth approximately $296,000. Northwestern Mutual Wealth Management Co. grew its position in Flutter Entertainment by 246.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after acquiring an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after acquiring an additional 106 shares during the last quarter.

Insider Activity at Flutter Entertainment

In related news, Director John A. Bryant purchased 1,950 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the purchase, the director directly owned 9,235 shares of the company’s stock, valued at approximately $949,912.10. This represents a 26.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s 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 transaction, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at approximately $7,293,610.38. This trade represents a 3.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

FLUT has been the topic of a number of analyst reports. Oppenheimer decreased their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. BTIG Research cut their price target on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Citizens Jmp reduced their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Wedbush reiterated an “outperform” rating and issued a $138.00 price objective on shares of Flutter Entertainment in a report on Friday, July 17th. Finally, Truist Financial lowered their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Flutter Entertainment Stock Up 4.4%

Shares of NYSE:FLUT opened at $105.72 on Tuesday. The stock’s 50-day moving average is $103.60 and its 200 day moving average is $119.46. The company has a market cap of $18.39 billion, a PE ratio of -49.40, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share 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 analysts’ expectations of $4.24 billion. During the same quarter last year, the business posted $1.59 EPS. The business’s revenue was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Flutter Entertainment PLC will post 4.72 EPS 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.