Wexford Capital LP Reduces Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Wexford Capital LP lessened its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 35.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,502 shares of the company's stock after selling 1,356 shares during the quarter. Wexford Capital LP's holdings in Flutter Entertainment were worth $647,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Capital World Investors boosted its position in Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares during the period. Vanguard Group Inc. boosted its position in Flutter Entertainment by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after purchasing an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd acquired a new position in Flutter Entertainment during the 4th quarter valued at approximately $2,146,227,000. Norges Bank bought a new stake in Flutter Entertainment during the 4th quarter valued at $946,681,000. Finally, FMR LLC raised its stake in Flutter Entertainment by 0.8% during the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after acquiring an additional 25,422 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FLUT. JMP Securities dropped their price objective on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Barclays dropped their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Susquehanna dropped their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and issued a $310.00 price objective on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, Truist Financial dropped their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $306.28.

Insider Transactions at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 2,315 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the sale, the chief executive officer now owns 73,947 shares of the company's stock, valued at approximately $18,006,094.50. This trade represents a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,156 shares of company stock worth $10,926,922.

Flutter Entertainment Stock Up 2.1%

NYSE:FLUT opened at $249.23 on Monday. The firm has a market capitalization of $44.04 billion and a price-to-earnings ratio of 86.24. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The business's fifty day moving average price is $233.96 and its 200 day moving average price is $254.32.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. 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 firm earned $0.10 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Flutter Entertainment plc will post 4.17 earnings per share 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.

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