KBC Group NV Reduces Stock Position in Flutter Entertainment PLC (NYSE:FLUT)

KBC Group NV decreased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,349 shares of the company's stock after selling 3,441 shares during the period. KBC Group NV's holdings in Flutter Entertainment were worth $1,628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FLUT. Sequoia Financial Advisors LLC lifted its position in shares of Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock valued at $407,000 after buying an additional 53 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in 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 acquiring an additional 56 shares during the period. Parallel Advisors LLC lifted its holdings in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $5.34 during mid-day trading on Friday, reaching $277.00. The stock had a trading volume of 1,138,206 shares, compared to its average volume of 2,087,343. The stock has a market capitalization of $48.94 billion and a P/E ratio of 95.85. The firm has a 50 day moving average price of $254.96 and a two-hundred day moving average price of $253.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a one year low of $175.59 and a one year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company's revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Carolan Lennon sold 430 shares of the 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 sale, the director directly owned 769 shares in the company, valued at $188,950.99. This represents a 35.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Holly K. Koeppel sold 267 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total value of $65,511.12. Following the transaction, the director owned 2,556 shares in the company, valued at approximately $627,140.16. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,770 shares of company stock valued at $1,894,934 over the last three months.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $310.00 target price on shares of Flutter Entertainment in a research note on Tuesday, June 10th. Canaccord Genuity Group assumed coverage on Flutter Entertainment in a research report on Wednesday, June 25th. They set a "buy" rating and a $330.00 price target on the stock. Benchmark reaffirmed a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $301.00 target price on shares of Flutter Entertainment in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $305.10.

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.