Flutter Entertainment PLC (NYSE:FLUT) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC trimmed its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,633 shares of the company's stock after selling 13,682 shares during the quarter. CWA Asset Management Group LLC's holdings in Flutter Entertainment were worth $5,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. Capital World Investors raised its position in shares of 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 buying an additional 1,635,241 shares during the period. Vanguard Group Inc. increased its holdings in Flutter Entertainment by 3.2% in the 4th 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 during the last quarter. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $2,146,227,000. Norges Bank purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $946,681,000. Finally, FMR LLC boosted its holdings in 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 acquiring an additional 25,422 shares during the period.

Flutter Entertainment Stock Performance

FLUT stock traded up $1.00 during trading on Thursday, hitting $272.60. The company had a trading volume of 6,452,253 shares, compared to its average volume of 1,928,611. The firm has a 50-day moving average price of $244.63 and a 200-day moving average price of $253.64. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. The firm has a market cap of $48.16 billion and a PE ratio of 94.32. Flutter Entertainment PLC has a 1-year low of $175.59 and a 1-year high of $299.73.

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 analysts' consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Nancy Cruickshank sold 281 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $69,044.51. Following the transaction, the director now owns 1,797 shares of the company's stock, valued at $441,540.87. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amy Howe sold 2,315 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the completion of the transaction, the chief executive officer now owns 73,947 shares of the company's stock, valued at $18,006,094.50. The trade was a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,770 shares of company stock worth $1,894,934.

Analysts Set New Price Targets

Several equities analysts have commented on FLUT shares. JMP Securities restated a "market outperform" rating and issued a $301.00 price target on shares of Flutter Entertainment in a research note on Thursday, June 12th. 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 research report on Tuesday, April 22nd. Macquarie reissued an "outperform" rating and issued a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. UBS Group raised their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $310.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $303.79.

About Flutter Entertainment

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.