Vontobel Holding Ltd. Cuts Stock Position in Flutter Entertainment PLC (NYSE:FLUT)

Vontobel Holding Ltd. lessened its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 18.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,006,272 shares of the company's stock after selling 233,270 shares during the period. Vontobel Holding Ltd. owned approximately 0.57% of Flutter Entertainment worth $227,697,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FLUT. Parvus Asset Management Europe Ltd bought a new stake in shares of Flutter Entertainment in the 4th quarter worth $2,146,227,000. Norges Bank bought a new position in Flutter Entertainment during the 4th quarter valued at about $946,681,000. Invesco Ltd. purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $621,680,000. Lone Pine Capital LLC bought a new position in Flutter Entertainment during the fourth quarter valued at approximately $494,291,000. Finally, Capital World Investors grew its position in Flutter Entertainment by 11.9% in the 4th 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 during the period.

Insider Buying and Selling

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total transaction of $64,447.68. Following the transaction, the director owned 559 shares of the company's stock, valued at approximately $136,463.08. This trade represents a 32.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Bryant sold 418 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,463,448.76. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 over the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on FLUT shares. Truist Financial lowered their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price objective on the stock. Susquehanna dropped their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Stifel Nicolaus cut their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, BTIG Research reduced their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $305.10.

Flutter Entertainment Trading Down 0.3%

Flutter Entertainment stock traded down $0.79 during trading hours on Tuesday, hitting $284.97. The company had a trading volume of 2,658,273 shares, compared to its average volume of 2,078,896. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $50.35 billion and a P/E ratio of 98.61. The company has a 50-day moving average price of $251.85 and a two-hundred day moving average price of $253.03. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted 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). Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business's revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate 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.