Peregrine Capital Management LLC Trims Stock Position in Flutter Entertainment PLC (NYSE:FLUT)

Peregrine Capital Management LLC decreased its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,717 shares of the company's stock after selling 4,373 shares during the period. Flutter Entertainment comprises approximately 0.9% of Peregrine Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Peregrine Capital Management LLC owned approximately 0.07% of Flutter Entertainment worth $26,745,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $25,000. IFP Advisors Inc raised its stake in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Flutter Entertainment during the 4th quarter worth $33,000.

Analyst Ratings Changes

Several research firms have recently weighed in on FLUT. Truist Financial decreased 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. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Benchmark restated a "buy" rating and issued a $300.00 price target on shares of Flutter Entertainment in a research report on Monday, April 21st. Citizens Jmp reduced their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, BTIG Research lowered their price objective on 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 investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $305.10.

Insiders Place Their Bets

In other Flutter Entertainment news, Director Nancy Cruickshank sold 281 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 value of $69,044.51. Following the sale, the director owned 1,797 shares of the company's stock, valued at $441,540.87. This trade represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolan Lennon sold 430 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 approximately $188,950.99. This trade represents a 35.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,770 shares of company stock valued at $1,894,934.

Flutter Entertainment Trading Down 1.9%

Shares of NYSE FLUT traded down $5.34 during trading on Thursday, reaching $277.00. The stock had a trading volume of 1,138,206 shares, compared to its average volume of 2,080,937. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $48.94 billion and a P/E ratio of 95.85. Flutter Entertainment PLC has a fifty-two week low of $175.59 and a fifty-two week high of $299.73. The business's 50-day moving average price is $254.02 and its 200-day moving average price is $253.46.

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). The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The business's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment Company 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.