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

Assetmark Inc. cut its position in Flutter Entertainment PLC (NYSE:FLUT) by 88.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HughesLittle Investment Management Ltd. raised its holdings in Flutter Entertainment by 34.8% in the 1st quarter. HughesLittle Investment Management Ltd. now owns 329,440 shares of the company’s stock worth $33,586,000 after acquiring an additional 85,050 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $673,000. Bessemer Group Inc. boosted its holdings in shares of Flutter Entertainment by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 382,161 shares of the company’s stock valued at $38,962,000 after acquiring an additional 6,180 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Flutter Entertainment in the first quarter worth approximately $284,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Flutter Entertainment by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 432,958 shares of the company’s stock worth $44,140,000 after acquiring an additional 25,803 shares during the period.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer owned 74,326 shares of the company’s stock, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu purchased 1,459 shares of Flutter Entertainment stock in a transaction on Friday, May 8th. The stock was bought at an average price of $102.78 per share, with a total value of $149,956.02. Following the transaction, the insider owned 22,265 shares of the company’s stock, valued at approximately $2,288,396.70. This represents a 7.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. 0.13% of the stock is owned by company insiders.

Flutter Entertainment Stock Up 4.4%

Shares of FLUT stock opened at $105.72 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The stock has a market cap of $18.39 billion, a P/E ratio of -49.40, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a 50 day simple moving average of $103.60 and a two-hundred day simple moving average of $119.46.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results 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 negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company posted $1.59 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts expect that Flutter Entertainment PLC will post 4.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of research analyst reports. Benchmark lowered their price objective on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Moffett Nathanson downgraded shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price for the company. in a research report on Friday, April 24th. Stifel Nicolaus decreased their target price on shares of Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Flutter Entertainment 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.