KBC Group NV Sells 3,441 Shares of Flutter Entertainment PLC (NYSE:FLUT)

KBC Group NV decreased its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 31.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in Flutter Entertainment in the 4th quarter worth $25,000. Farther Finance Advisors LLC grew its stake in shares of Flutter Entertainment by 585.7% in 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 last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after purchasing an additional 110 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Flutter Entertainment by 78.9% in the first 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. Finally, IFP Advisors Inc grew its stake in shares of Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after purchasing an additional 83 shares during the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, Director Holly K. Koeppel sold 267 shares of Flutter Entertainment 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 sale, the director owned 2,556 shares of the company's stock, valued at $627,140.16. The trade was a 9.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carolan Lennon sold 430 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 value of $105,655.30. Following the sale, the director directly owned 769 shares in the company, valued at $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 sold a total of 7,770 shares of company stock worth $1,894,934 in the last 90 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FLUT shares. Needham & Company LLC reiterated a "buy" rating and issued a $310.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, June 10th. Sanford C. Bernstein initiated coverage on shares of Flutter Entertainment in a report on Wednesday, June 4th. They issued a "market perform" rating and a $275.00 price target on the stock. Citizens Jmp cut their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. JMP Securities reaffirmed a "market outperform" rating and set a $301.00 target price on shares of Flutter Entertainment in a research note on Thursday, June 12th. Finally, BTIG Research cut their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Two 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $305.10.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT traded up $1.87 during midday trading on Monday, reaching $282.92. 1,502,264 shares of the company's stock traded hands, compared to its average volume of 2,089,559. The stock has a 50 day moving average of $256.79 and a 200 day moving average of $253.48. The company has a market cap of $49.99 billion and a price-to-earnings ratio of 97.90. 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal 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.