Jefferies Financial Group Inc. Trims Position in Flutter Entertainment plc (NYSE:FLUT)

Jefferies Financial Group Inc. cut its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 25.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,235 shares of the company's stock after selling 5,967 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Flutter Entertainment were worth $4,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FLUT. Capital World Investors lifted its position in Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. lifted 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 acquiring an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd bought a new stake in Flutter Entertainment during the fourth quarter worth about $2,146,227,000. Norges Bank purchased a new stake in Flutter Entertainment in the fourth quarter worth about $946,681,000. Finally, FMR LLC grew its holdings in Flutter Entertainment by 0.8% in the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock worth $881,349,000 after purchasing an additional 25,422 shares during the period.

Flutter Entertainment Stock Performance

Flutter Entertainment stock traded up $5.13 during midday trading on Friday, reaching $249.23. 1,501,755 shares of the company traded hands, compared to its average volume of 1,861,322. The firm has a market capitalization of $44.04 billion and a price-to-earnings ratio of 86.24. The business has a 50 day moving average of $233.60 and a two-hundred day moving average of $253.91. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share 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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $0.10 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of analyst reports. Citizens Jmp dropped their price target on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company upped their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Stifel Nicolaus cut 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. Barclays cut their price target 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. Finally, Macquarie restated an "outperform" rating and issued a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of "Buy" and an average target price of $306.28.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 2,315 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer now directly owns 73,947 shares in the company, valued at approximately $18,006,094.50. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James Philip Bishop sold 3,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the completion of the sale, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at approximately $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,156 shares of company stock worth $10,926,922.

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.