K.J. Harrison & Partners Inc Trims Stock Holdings in Flutter Entertainment PLC (NYSE:FLUT)

K.J. Harrison & Partners Inc decreased its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,075 shares of the company's stock after selling 925 shares during the quarter. K.J. Harrison & Partners Inc's holdings in Flutter Entertainment were worth $1,338,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FLUT. Farther Finance Advisors LLC lifted its stake in 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 acquiring an additional 82 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment during the fourth quarter worth $25,000. IFP Advisors Inc boosted its position in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after acquiring an additional 83 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Flutter Entertainment in the 4th quarter worth $33,000.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded down $2.40 during midday trading on Wednesday, reaching $282.36. The company had a trading volume of 2,665,910 shares, compared to its average volume of 2,085,423. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a 12-month low of $175.59 and a 12-month high of $299.73. The company has a market capitalization of $49.89 billion and a P/E ratio of 97.70. The firm's fifty day simple moving average is $253.01 and its 200-day simple moving average is $253.26.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its 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 firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter last year, the business earned $0.10 EPS. The business's revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target 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. JMP Securities reaffirmed a "market outperform" rating and issued a $301.00 price objective on shares of Flutter Entertainment in a research report on Thursday, June 12th. Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Truist Financial cut their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group started coverage on Flutter Entertainment in a research note on Wednesday, June 25th. They issued a "buy" rating and a $330.00 target price for the company. Two investment 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 MarketBeat, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.10.

Insider Activity at Flutter Entertainment

In related news, Director Carolan Lennon sold 430 shares of the 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 completion of the sale, the director owned 769 shares of the company's stock, valued at approximately $188,950.99. This trade represents a 35.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine M. Mccarthy sold 264 shares of the company'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 completion of the sale, the director directly owned 559 shares of the company's stock, valued at $136,463.08. This represents a 32.08% decrease in their position. 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 90 days.

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.