Flutter Entertainment PLC $FLUT Position Lowered by First Trust Advisors LP

First Trust Advisors LP reduced its stake in Flutter Entertainment PLC (NYSE:FLUT) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 437,448 shares of the company’s stock after selling 106,457 shares during the period. First Trust Advisors LP owned 0.25% of Flutter Entertainment worth $44,598,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Flutter Entertainment

In related news, insider Don H. Liu sold 1,259 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the sale, the insider owned 21,006 shares in the company, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $99.75 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief operating officer owned 17,605 shares in the company, valued at $1,756,098.75. The trade was a 6.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays upped their price target on Flutter Entertainment from $150.00 to $151.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Citizens Jmp cut their price objective on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. Oppenheimer reduced their target price on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Stifel Nicolaus cut their target price on Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, BTIG Research reduced their price target on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $101.47 on Monday. Flutter Entertainment PLC has a one year low of $91.52 and a one year high of $313.68. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of -47.42, a P/E/G ratio of 1.39 and a beta of 1.31. The stock’s fifty day moving average price is $103.43 and its two-hundred day moving average price is $120.26. 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 (NYSE:FLUT) last issued 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. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 EPS. On average, equities analysts forecast that Flutter Entertainment PLC will post 4.72 EPS for the current year.

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.