Asahi Life Asset Management CO. LTD. Buys Shares of 1,540 Flutter Entertainment PLC (NYSE:FLUT)

Asahi Life Asset Management CO. LTD. bought a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,540 shares of the company's stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLUT. Sequoia Financial Advisors LLC lifted its stake in shares of Flutter Entertainment by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after acquiring an additional 53 shares during the period. Harbor Investment Advisory LLC grew its holdings in Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after buying an additional 56 shares in the last quarter. Parallel Advisors LLC grew its stake in Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after buying an additional 67 shares during the last quarter. Finally, CWM LLC lifted its holdings in Flutter Entertainment by 59.6% during the 1st quarter. CWM LLC now owns 217 shares of the company's stock worth $48,000 after purchasing an additional 81 shares in the last quarter.

Insider Activity

In other news, Director Alfred F. Hurley, Jr. sold 265 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $243.94, for a total transaction of $64,644.10. Following the completion of the sale, the director owned 3,518 shares in the company, valued at approximately $858,180.92. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolan Lennon sold 430 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $105,655.30. Following the sale, the director owned 769 shares of the company's stock, valued at $188,950.99. This trade represents a 35.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,770 shares of company stock worth $1,894,934.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded down $1.54 during mid-day trading on Tuesday, hitting $293.58. The stock had a trading volume of 1,669,977 shares, compared to its average volume of 2,104,714. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average of $261.34 and a two-hundred day moving average of $254.48. Flutter Entertainment PLC has a twelve month low of $175.59 and a twelve month high of $299.73. The firm has a market cap of $51.87 billion and a PE ratio of 101.58.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results 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). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the business posted $0.10 earnings per share. Flutter Entertainment's revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays lowered their price target on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Citizens Jmp dropped their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Stifel Nicolaus lowered their target price on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. JMP Securities lifted their price objective on Flutter Entertainment from $301.00 to $323.00 and gave the company a "market outperform" rating in a research note on Tuesday. Finally, BTIG Research lowered their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $311.14.

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.