Artemis Investment Management LLP Has $109.56 Million Stock Position in Flutter Entertainment PLC (NYSE:FLUT)

Artemis Investment Management LLP decreased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 498,550 shares of the company's stock after selling 38,166 shares during the period. Flutter Entertainment comprises about 1.7% of Artemis Investment Management LLP's investment portfolio, making the stock its 11th biggest holding. Artemis Investment Management LLP owned 0.28% of Flutter Entertainment worth $109,561,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Capital World Investors increased its stake in Flutter Entertainment by 11.9% in the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. grew its stake in Flutter Entertainment by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after purchasing an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd acquired a new position in Flutter Entertainment in the 4th quarter worth about $2,146,227,000. Norges Bank acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $946,681,000. Finally, FMR LLC raised its holdings in shares of Flutter Entertainment by 0.8% during the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after purchasing an additional 25,422 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the subject of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Macquarie restated an "outperform" rating and issued a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Barclays decreased their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Susquehanna decreased their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein started coverage on Flutter Entertainment in a research report on Wednesday, June 4th. They set a "market perform" rating and a $275.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $305.10.

Insiders Place Their Bets

In other news, COO James Philip Bishop sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the sale, the chief operating officer now owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 2,315 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.50, for a total transaction of $563,702.50. Following the sale, the chief executive officer now directly owns 73,947 shares in the company, valued at $18,006,094.50. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,770 shares of company stock worth $1,894,934.

Flutter Entertainment Stock Up 1.2%

Shares of NYSE:FLUT opened at $271.09 on Friday. Flutter Entertainment PLC has a one year low of $175.59 and a one year high of $299.73. The stock has a market cap of $47.90 billion and a price-to-earnings ratio of 93.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average of $249.53 and a 200-day moving average of $253.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment 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.

Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment PLC (NYSE:FLUT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.