Ethic Inc. Trims Holdings in Flutter Entertainment plc (NYSE:FLUT)

Ethic Inc. cut its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 74.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 938 shares of the company's stock after selling 2,779 shares during the quarter. Ethic Inc.'s holdings in Flutter Entertainment were worth $242,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Farallon Capital Management LLC grew its stake in Flutter Entertainment by 69.5% during the fourth quarter. Farallon Capital Management LLC now owns 90,300 shares of the company's stock valued at $23,338,000 after acquiring an additional 37,030 shares in the last quarter. Deutsche Bank AG boosted its holdings in Flutter Entertainment by 6.3% in the 4th quarter. Deutsche Bank AG now owns 1,215,272 shares of the company's stock valued at $314,087,000 after purchasing an additional 72,387 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Flutter Entertainment by 175.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 300 shares of the company's stock valued at $78,000 after purchasing an additional 191 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of Flutter Entertainment by 38.5% in the fourth quarter. CoreCap Advisors LLC now owns 450 shares of the company's stock worth $116,000 after purchasing an additional 125 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Flutter Entertainment by 74.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 129,298 shares of the company's stock worth $33,417,000 after purchasing an additional 55,370 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on FLUT. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Susquehanna cut their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Barclays lowered their price target on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company upped their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $306.28.

Insider Buying and Selling

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. The trade was a 15.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,156 shares of company stock valued at $10,926,922 over the last quarter.

Flutter Entertainment Trading Down 2.7%

Shares of NYSE:FLUT traded down $6.62 during midday trading on Wednesday, hitting $240.27. 1,773,744 shares of the stock traded hands, compared to its average volume of 1,867,480. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $234.56 and its two-hundred day moving average is $254.40. The stock has a market capitalization of $42.45 billion and a PE ratio of 83.14. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly 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). The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. As a group, research analysts forecast that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

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.