Alyeska Investment Group L.P. Sells 48,280 Shares of Flutter Entertainment plc (NYSE:FLUT)

Alyeska Investment Group L.P. lowered its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 35.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,299 shares of the company's stock after selling 48,280 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Flutter Entertainment were worth $22,821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLUT. UMB Bank n.a. increased its holdings in shares of Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company's stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. Harbor Investment Advisory LLC raised its position in shares of Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock worth $33,000 after acquiring an additional 50 shares during the last quarter. Seelaus Asset Management LLC lifted its stake in shares of Flutter Entertainment by 6.4% during the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock valued at $236,000 after acquiring an additional 55 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock valued at $446,000 after acquiring an additional 59 shares during the period. Finally, 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 valued at $25,000 after acquiring an additional 82 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FLUT shares. Citizens Jmp dropped their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. JMP Securities cut their price target 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 decreased their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Finally, BTIG Research decreased their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $306.28.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded down $6.43 during trading hours on Friday, reaching $234.76. 1,691,383 shares of the stock were exchanged, compared to its average volume of 1,864,072. The stock's fifty day simple moving average is $234.03 and its 200 day simple moving average is $253.56. The firm has a market capitalization of $41.49 billion and a price-to-earnings ratio of 1,067.09. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. 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 (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business had revenue of $3.67 billion during the quarter, compared to analyst estimates 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 was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. Sell-side analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction on 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 in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $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.

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.