Cetera Investment Advisers Boosts Holdings in Flutter Entertainment plc (NYSE:FLUT)

Cetera Investment Advisers boosted its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 172.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,291 shares of the company's stock after acquiring an additional 7,141 shares during the quarter. Cetera Investment Advisers' holdings in Flutter Entertainment were worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. boosted its stake in shares of Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company's stock valued at $35,000 after purchasing an additional 50 shares during the period. Harbor Investment Advisory LLC raised its holdings in Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock valued at $33,000 after buying an additional 50 shares during the last quarter. Seelaus Asset Management LLC boosted its position in Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock valued at $236,000 after buying an additional 55 shares during the period. Ritholtz Wealth Management grew its holdings in Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock worth $446,000 after acquiring an additional 59 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the period.

Flutter Entertainment Stock Down 0.8%

Shares of FLUT traded down $2.06 during trading hours on Tuesday, hitting $247.29. The company had a trading volume of 1,427,951 shares, compared to its average volume of 1,864,360. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $43.69 billion and a price-to-earnings ratio of 85.57. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The firm has a fifty day moving average price of $234.25 and a 200-day moving average price of $254.45.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, equities research analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FLUT has been the topic of several recent analyst reports. Macquarie reissued an "outperform" rating and issued a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Barclays reduced their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Susquehanna dropped their price target on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. JMP Securities reduced their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research report on Monday, April 14th. Finally, BTIG Research decreased their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $306.28.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares of the company's stock, valued at $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,156 shares of company stock valued at $10,926,922.

Flutter Entertainment Company Profile

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.