Envestnet Asset Management Inc. Sells 12,924 Shares of Flutter Entertainment PLC (NYSE:FLUT)

Envestnet Asset Management Inc. cut its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 19.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,099 shares of the company's stock after selling 12,924 shares during the period. Envestnet Asset Management Inc.'s holdings in Flutter Entertainment were worth $12,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FLUT. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after buying an additional 82 shares in the last quarter. GPS Wealth Strategies Group LLC grew its position in Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Parallel Advisors LLC boosted its position in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $33,000.

Flutter Entertainment Trading Up 0.7%

Shares of Flutter Entertainment stock opened at $306.92 on Friday. Flutter Entertainment PLC has a fifty-two week low of $175.59 and a fifty-two week high of $309.77. 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 firm has a market capitalization of $54.23 billion and a price-to-earnings ratio of 106.20. The stock has a 50 day moving average of $266.11 and a 200 day moving average of $255.67.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.59 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 firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter last year, the business earned $0.10 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John A. Bryant sold 418 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the sale, the director owned 5,956 shares in the company, valued at $1,463,448.76. This represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the sale, the director owned 559 shares of the company's stock, valued at approximately $136,463.08. This represents a 32.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,770 shares of company stock worth $1,894,934.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BTIG Research reduced 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. Macquarie reissued an "outperform" rating and set a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Citizens Jmp reduced their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group started coverage on shares of Flutter Entertainment in a report on Wednesday, June 25th. They set a "buy" rating and a $330.00 target price for the company. Finally, Sanford C. Bernstein assumed coverage on Flutter Entertainment in a research report on Wednesday, June 4th. They set a "market perform" rating and a $275.00 target price on the stock. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $318.52.

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.

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