OneDigital Investment Advisors LLC Trims Position in Flutter Entertainment PLC (NYSE:FLUT)

OneDigital Investment Advisors LLC reduced its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,093 shares of the company's stock after selling 885 shares during the period. OneDigital Investment Advisors LLC's holdings in Flutter Entertainment were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLUT. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment during the fourth quarter valued at approximately $2,146,227,000. Norges Bank purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth $946,681,000. Invesco Ltd. purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth $621,680,000. Lone Pine Capital LLC purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth $494,291,000. Finally, Capital World Investors increased its stake in shares of Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Stifel Nicolaus reduced their price objective on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Truist Financial reduced their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of Flutter Entertainment in a research note on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $308.67.

Insider Transactions at Flutter Entertainment

In other news, Director Alfred F. Hurley, Jr. sold 265 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $243.94, for a total value of $64,644.10. Following the completion of the sale, the director owned 3,518 shares in the company, valued at approximately $858,180.92. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Bryant sold 418 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the transaction, the director directly owned 5,956 shares in the company, valued at $1,463,448.76. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,770 shares of company stock worth $1,894,934.

Flutter Entertainment Trading Up 0.9%

Shares of Flutter Entertainment stock traded up $2.63 during trading on Thursday, hitting $288.96. The stock had a trading volume of 324,851 shares, compared to its average volume of 2,094,341. The firm's fifty day simple moving average is $258.65 and its 200-day simple moving average is $253.93. The stock has a market cap of $51.06 billion and a PE ratio of 99.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a 12 month low of $175.59 and a 12 month 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 the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. Flutter Entertainment's revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal 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.