Troluce Capital Advisors LLC Reduces Position in Flutter Entertainment plc (NYSE:FLUT)

Troluce Capital Advisors LLC decreased its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 90.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,992 shares of the company's stock after selling 118,508 shares during the quarter. Flutter Entertainment accounts for 0.1% of Troluce Capital Advisors LLC's portfolio, making the stock its 15th largest position. Troluce Capital Advisors LLC's holdings in Flutter Entertainment were worth $3,358,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its holdings 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 purchasing an additional 82 shares during the last quarter. BOCHK Asset Management Ltd purchased a new stake in Flutter Entertainment in the fourth quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new stake in Flutter Entertainment in the fourth quarter worth approximately $26,000. Finally, IFP Advisors Inc boosted its holdings in 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 at Flutter Entertainment

In other news, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the sale, the chief operating officer now directly owns 4,712 shares in the company, valued at $1,145,958.40. The trade was a 38.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,156 shares of company stock worth $10,926,922.

Flutter Entertainment Price Performance

NYSE FLUT traded down $6.62 on Wednesday, reaching $240.27. The company had a trading volume of 1,773,744 shares, compared to its average volume of 1,870,791. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $42.45 billion and a PE ratio of 83.14. The firm's 50 day moving average price is $234.56 and its 200 day moving average price is $254.40. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 negative net margin of 6.86% and a negative return on equity of 4.52%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, equities analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FLUT shares. Macquarie restated an "outperform" rating and issued a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. BTIG Research dropped their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. UBS Group raised their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Truist Financial dropped 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. Finally, Benchmark reiterated a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of "Buy" and an average target price of $306.28.

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.