Marathon Asset Management Ltd Has $391.89 Million Stake in Flutter Entertainment PLC (NYSE:FLUT)

Marathon Asset Management Ltd lessened its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,768,835 shares of the company's stock after selling 74,847 shares during the quarter. Flutter Entertainment comprises 12.0% of Marathon Asset Management Ltd's investment portfolio, making the stock its largest position. Marathon Asset Management Ltd owned about 1.00% of Flutter Entertainment worth $391,885,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FLUT. Sequoia Financial Advisors LLC raised its holdings 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 in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after buying an additional 56 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after buying an additional 67 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after buying an additional 82 shares in the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $279.26 on Friday. 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 52-week low of $175.59 and a 52-week high of $299.73. The stock has a market capitalization of $49.34 billion and a PE ratio of 96.63. The stock's 50 day moving average price is $250.56 and its 200-day moving average price is $253.34.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director Nancy Dubuc sold 265 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $244.96, for a total value of $64,914.40. Following the sale, the director now directly owns 558 shares of the company's stock, valued at approximately $136,687.68. The trade was a 32.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine M. Mccarthy sold 264 shares of the business's stock in a transaction 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 now directly owns 559 shares in the company, valued at $136,463.08. This trade represents a 32.08% 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 over the last ninety days.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FLUT shares. Susquehanna decreased their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Canaccord Genuity Group initiated coverage on Flutter Entertainment in a research note on Wednesday. They issued a "buy" rating and a $330.00 price target on the stock. UBS Group lifted their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Finally, Stifel Nicolaus decreased their price target on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $305.10.

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.

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