First Trust Advisors LP Has $44.60 Million Stock Position in Flutter Entertainment PLC $FLUT

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

A number of other hedge funds have also added to or reduced their stakes in the stock. Zions Bancorporation National Association UT boosted its position in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased 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 worth $42,000 after purchasing an additional 75 shares during the last quarter. EFG International AG purchased a new stake in Flutter Entertainment in the fourth quarter worth $36,000. IFP Advisors Inc increased its holdings in Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares during the period.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $138.00 price objective on shares of Flutter Entertainment in a research note on Friday, July 17th. Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday. Freedom Capital raised Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Flutter Entertainment Price Performance

FLUT opened at $101.47 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $17.65 billion, a PE ratio of -47.42, a P/E/G ratio of 1.39 and a beta of 1.31. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The stock has a 50-day moving average price of $103.43 and a 200-day moving average price of $120.26.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The firm had revenue of $4.30 billion for 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 for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. Sell-side analysts predict that Flutter Entertainment PLC will post 4.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In related news, Director John A. Bryant bought 1,950 shares of the stock in a transaction on Friday, May 8th. The shares were acquired at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the purchase, the director owned 9,235 shares of the company’s stock, valued at approximately $949,912.10. The trade was a 26.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Don H. Liu acquired 1,459 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the transaction, the insider owned 22,265 shares of the company’s stock, valued at $2,288,396.70. This trade represents a 7.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by insiders.

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.