D. E. Shaw & Co. Inc. Trims Holdings in Flutter Entertainment plc (NYSE:FLUT)

D. E. Shaw & Co. Inc. reduced its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,309 shares of the company's stock after selling 16,241 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.20% of Flutter Entertainment worth $91,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of FLUT. Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment during the fourth quarter worth approximately $2,146,227,000. Norges Bank purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $946,681,000. Invesco Ltd. purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $621,680,000. Lone Pine Capital LLC purchased a new position in Flutter Entertainment during the 4th quarter valued at $494,291,000. Finally, Capital World Investors increased its position in Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares during the period.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of research analyst reports. Macquarie reissued an "outperform" rating and set a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Susquehanna lowered their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Barclays lowered their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $306.28.

Insider Buying and Selling

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

Flutter Entertainment Stock Performance

Flutter Entertainment stock traded up $12.80 during midday trading on Monday, hitting $247.27. The stock had a trading volume of 1,832,800 shares, compared to its average volume of 1,863,947. The firm's fifty day moving average is $234.03 and its two-hundred day moving average is $253.74. The company has a market capitalization of $43.69 billion and a PE ratio of 85.56. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

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

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.