Flutter Entertainment PLC (NYSE:FLUT) Shares Sold by Perpetual Ltd

Perpetual Ltd decreased its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,120,521 shares of the company's stock after selling 96,703 shares during the quarter. Flutter Entertainment accounts for approximately 3.0% of Perpetual Ltd's investment portfolio, making the stock its 4th largest position. Perpetual Ltd owned 0.63% of Flutter Entertainment worth $248,251,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FLUT. Capital World Investors lifted its holdings in Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. raised its position in shares of Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock worth $2,479,812,000 after acquiring an additional 299,300 shares during the last quarter. Parvus Asset Management Europe Ltd acquired a new position in shares of Flutter Entertainment in the fourth quarter worth approximately $2,146,227,000. Norges Bank bought a new stake in Flutter Entertainment in the fourth quarter valued at approximately $946,681,000. Finally, FMR LLC boosted its holdings in Flutter Entertainment by 0.8% in the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after acquiring an additional 25,422 shares during the last quarter.

Flutter Entertainment Stock Up 1.2%

Flutter Entertainment stock opened at $271.09 on Friday. The firm has a market capitalization of $47.90 billion and a price-to-earnings ratio of 93.80. The firm's fifty day moving average price is $249.53 and its two-hundred day moving average price is $253.31. 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 released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. Flutter Entertainment's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on FLUT shares. Stifel Nicolaus lowered their price target on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Canaccord Genuity Group initiated coverage on shares of Flutter Entertainment in a research note on Wednesday. They set a "buy" rating and a $330.00 target price for the company. Peel Hunt raised shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. UBS Group increased their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $310.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, June 10th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $305.10.

Insider Buying and Selling

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the transaction, the chief operating officer now owns 4,712 shares of the company's stock, valued at $1,145,958.40. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total value of $64,644.10. Following the completion of the transaction, the director now owns 3,518 shares in the company, valued at $858,180.92. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,770 shares of company stock worth $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.

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