Y Intercept Hong Kong Ltd Sells 7,055 Shares of Flutter Entertainment PLC (NYSE:FLUT)

Y Intercept Hong Kong Ltd lowered its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 55.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,730 shares of the company's stock after selling 7,055 shares during the period. Y Intercept Hong Kong Ltd's holdings in Flutter Entertainment were worth $1,269,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC boosted its holdings in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares during the last quarter. Parallel Advisors LLC increased its position in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Flutter Entertainment in the fourth quarter worth $33,000. TD Waterhouse Canada Inc. bought a new position in Flutter Entertainment during the fourth quarter valued at $36,000. Finally, Harbor Investment Advisory LLC increased its position in Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after acquiring an additional 56 shares during the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Holly K. Koeppel sold 267 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total transaction of $65,511.12. Following the transaction, the director owned 2,556 shares of the company's stock, valued at $627,140.16. The trade was a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine M. Mccarthy sold 264 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 559 shares in the company, valued at approximately $136,463.08. This trade represents a 32.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock valued at $1,894,934 in the last ninety days.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Canaccord Genuity Group initiated coverage on shares of Flutter Entertainment in a research report on Wednesday, June 25th. They set a "buy" rating and a $330.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price target for the company. JMP Securities increased their price target on shares of Flutter Entertainment from $301.00 to $323.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 15th. Finally, Oppenheimer increased their price target on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $322.10.

Flutter Entertainment Trading Up 0.1%

FLUT stock traded up $0.19 during midday trading on Monday, hitting $305.16. 559,136 shares of the company's stock were exchanged, compared to its average volume of 2,323,574. The stock's fifty day moving average price is $271.76 and its 200-day moving average price is $257.35. 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 $53.92 billion and a PE ratio of 105.62. Flutter Entertainment PLC has a one year low of $175.59 and a one year high of $309.77.

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 (EPS) 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 analyst estimates of $3.06 billion. During the same period in the prior year, the business earned $0.10 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts predict 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.