Cresset Asset Management LLC Trims Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Cresset Asset Management LLC decreased its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 62.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,310 shares of the company's stock after selling 2,191 shares during the quarter. Cresset Asset Management LLC's holdings in Flutter Entertainment were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in Flutter Entertainment in the fourth quarter worth $390,000. Park Avenue Securities LLC purchased a new stake in Flutter Entertainment in the fourth quarter worth $669,000. Ritholtz Wealth Management grew its stake in Flutter Entertainment by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock worth $446,000 after purchasing an additional 59 shares during the period. Clarius Group LLC purchased a new stake in Flutter Entertainment in the fourth quarter worth $212,000. Finally, Artemis Investment Management LLP grew its stake in Flutter Entertainment by 9.2% in the fourth quarter. Artemis Investment Management LLP now owns 536,716 shares of the company's stock worth $139,004,000 after purchasing an additional 45,087 shares during the period.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT traded down $2.06 during midday trading on Tuesday, reaching $247.29. 1,427,951 shares of the company's stock traded hands, compared to its average volume of 1,864,360. The company has a market cap of $43.69 billion and a price-to-earnings ratio of 85.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The stock has a 50 day moving average of $234.25 and a 200 day moving average of $254.45.

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 business had revenue of $3.67 billion for 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 company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, equities research analysts anticipate that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FLUT shares. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Benchmark reaffirmed a "buy" rating and issued a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Stifel Nicolaus reduced 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. Susquehanna dropped their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Finally, BTIG Research dropped their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $306.28.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Philip Bishop sold 3,000 shares of the 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 completion of the transaction, the chief operating officer now directly owns 4,712 shares in the company, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,156 shares of company stock valued at $10,926,922.

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.