Flutter Entertainment PLC (NYSE:FLUT) Position Lowered by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,820 shares of the company's stock after selling 2,222 shares during the quarter. Exchange Traded Concepts LLC's holdings in Flutter Entertainment were worth $5,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its position in Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares in the last quarter. Rubicon Global Capital Ltd lifted its position in shares of Flutter Entertainment by 56.1% in the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock valued at $15,564,000 after acquiring an additional 25,250 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Flutter Entertainment by 1.6% during the first quarter. Assenagon Asset Management S.A. now owns 7,109 shares of the company's stock valued at $1,575,000 after acquiring an additional 111 shares during the last quarter. SG Americas Securities LLC increased its position in Flutter Entertainment by 2,273.5% during the 1st quarter. SG Americas Securities LLC now owns 207,205 shares of the company's stock worth $45,906,000 after purchasing an additional 198,475 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in Flutter Entertainment by 2.8% during the 1st quarter. Yousif Capital Management LLC now owns 3,628 shares of the company's stock worth $804,000 after purchasing an additional 98 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target 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. BTIG Research decreased their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. UBS Group boosted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays decreased their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company upped their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $303.79.

Flutter Entertainment Stock Up 0.7%

NYSE:FLUT traded up $1.95 during mid-day trading on Tuesday, hitting $272.01. The company had a trading volume of 5,351,703 shares, compared to its average volume of 1,907,556. The business has a fifty day simple moving average of $243.22 and a 200-day simple moving average of $253.38. The firm has a market capitalization of $48.06 billion and a price-to-earnings ratio of 41.74. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $299.73. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67.

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 the consensus estimate of $1.89 by ($0.30). The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the sale, the director now directly owns 5,956 shares in the company, valued at $1,463,448.76. The trade was 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 Nancy Cruickshank sold 281 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $69,044.51. Following the transaction, the director now owns 1,797 shares of the company's stock, valued at approximately $441,540.87. This trade represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,770 shares of company stock valued at $1,894,934.

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.