Hohimer Wealth Management LLC Decreases Holdings in Flutter Entertainment PLC (NYSE:FLUT)

Hohimer Wealth Management LLC lowered its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 18.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,507 shares of the company's stock after selling 1,017 shares during the period. Hohimer Wealth Management LLC's holdings in Flutter Entertainment were worth $999,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its stake in Flutter Entertainment by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after acquiring an additional 53 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after purchasing an additional 56 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Flutter Entertainment by 59.6% during the first quarter. CWM LLC now owns 217 shares of the company's stock worth $48,000 after purchasing an additional 81 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock traded up $5.71 during trading hours on Monday, hitting $295.60. 2,524,642 shares of the company were exchanged, compared to its average volume of 2,364,187. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average of $260.42 and a 200-day moving average of $254.24. Flutter Entertainment PLC has a 1 year low of $175.59 and a 1 year high of $299.73. The stock has a market capitalization of $52.23 billion and a price-to-earnings ratio of 102.28.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released 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 last year, the business posted $0.10 EPS. The firm's revenue was up 7.9% on a year-over-year basis. As a group, analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FLUT. Bank of America raised their price target on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research note on Friday. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. BTIG Research lowered their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Truist Financial dropped their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citizens Jmp reduced their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $310.10.

Insider Buying and Selling

In other news, Director Christine M. Mccarthy sold 264 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director directly owned 559 shares of the company's stock, valued at $136,463.08. This trade represents a 32.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the sale, the director owned 5,956 shares in the company, valued at approximately $1,463,448.76. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,770 shares of company stock worth $1,894,934 in the last three months.

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.