Ethic Inc. Sells 2,779 Shares of Flutter Entertainment plc (NYSE:FLUT)

Ethic Inc. lessened its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 74.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 reporting period.

A number of other large investors also recently modified their holdings of FLUT. SeaCrest Wealth Management LLC bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $390,000. Park Avenue Securities LLC purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $669,000. Ritholtz Wealth Management increased its position in shares of Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock valued at $446,000 after acquiring an additional 59 shares during the last quarter. Clarius Group LLC purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $212,000. Finally, Artemis Investment Management LLP increased its position in shares of Flutter Entertainment by 9.2% during the fourth quarter. Artemis Investment Management LLP now owns 536,716 shares of the company's stock valued at $139,004,000 after acquiring an additional 45,087 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Susquehanna decreased their price target on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Macquarie reaffirmed an "outperform" rating and set a $340.00 price target (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Finally, Truist Financial decreased their price target on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Buy" and an average target price of $306.28.

Insider Activity

In related news, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the completion of the sale, the chief operating officer now owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction 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 sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at $16,396,130.50. This represents a 15.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,156 shares of company stock worth $10,926,922.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock traded up $3.15 during trading hours on Friday, reaching $241.32. The company had a trading volume of 1,188,062 shares, compared to its average volume of 1,872,915. The firm has a market cap of $42.64 billion and a PE ratio of 83.50. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The business has a fifty day simple moving average of $234.76 and a 200 day simple moving average of $254.46.

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). The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. On average, analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

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.