Flutter Entertainment PLC (NYSE:FLUT) Stake Reduced by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 18.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,006,272 shares of the company's stock after selling 233,270 shares during the quarter. Vontobel Holding Ltd. owned about 0.57% of Flutter Entertainment worth $227,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLUT. Capital World Investors grew its stake in Flutter Entertainment by 11.9% during the fourth 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 stake in shares of Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after acquiring an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd acquired a new position in shares of Flutter Entertainment during the 4th quarter valued at $2,146,227,000. Norges Bank purchased a new stake in Flutter Entertainment during the 4th quarter worth $946,681,000. Finally, FMR LLC increased its holdings in Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after purchasing an additional 25,422 shares in the last quarter.

Flutter Entertainment Stock Down 1.9%

Flutter Entertainment stock traded down $5.34 during midday trading on Friday, hitting $277.00. The stock had a trading volume of 1,138,206 shares, compared to its average volume of 2,087,343. The business has a fifty day moving average price of $254.96 and a 200 day moving average price of $253.46. Flutter Entertainment PLC has a 12 month low of $175.59 and a 12 month high of $299.73. The stock has a market cap of $48.94 billion and a P/E ratio of 95.85. 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 issued 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). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 EPS. Flutter Entertainment's revenue was up 7.9% compared to the same quarter last year. Research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director John A. Bryant sold 418 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the sale, the director owned 5,956 shares in the company, valued at $1,463,448.76. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolan Lennon sold 430 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 $105,655.30. Following the completion of the transaction, the director owned 769 shares in the company, valued at approximately $188,950.99. The trade was a 35.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock valued at $1,894,934 over the last quarter.

Analysts Set New Price Targets

FLUT has been the topic of a number of recent research reports. Benchmark restated a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Barclays dropped their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus decreased their price target on 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, June 25th. They set a "buy" rating and a $330.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.10.

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.