Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 51.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 362,514 shares of the company's stock after selling 388,233 shares during the period. Millennium Management LLC owned about 0.20% of Flutter Entertainment worth $93,692,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FLUT. UMB Bank n.a. lifted its position in shares of Flutter Entertainment by 58.8% during the 4th quarter. UMB Bank n.a. now owns 135 shares of the company's stock valued at $35,000 after acquiring an additional 50 shares during the period. Harbor Investment Advisory LLC increased its stake in Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Seelaus Asset Management LLC raised its holdings in Flutter Entertainment by 6.4% during the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock worth $236,000 after purchasing an additional 55 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Flutter Entertainment by 3.5% during 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 last quarter. Finally, Farther Finance Advisors LLC boosted its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares in the last quarter.

Insider Buying and Selling

In other news, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the transaction, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. The trade was a 38.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the sale, the chief executive officer now owns 62,941 shares of the company's stock, valued at $16,396,130.50. The trade was a 15.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,156 shares of company stock valued at $10,926,922.

Flutter Entertainment Trading Up 2.1%

Shares of FLUT stock traded up $5.13 during mid-day trading on Friday, hitting $249.23. 1,501,755 shares of the company's stock were exchanged, compared to its average volume of 1,868,834. The stock has a market cap of $44.04 billion and a price-to-earnings ratio of 86.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock has a 50-day simple moving average of $233.96 and a two-hundred day simple moving average of $254.17.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. Equities analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Susquehanna cut their price target on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Barclays dropped their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Citizens Jmp reduced their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company increased their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Macquarie restated an "outperform" rating and set a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Twenty research analysts have rated the stock with a buy rating and one has issued 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.

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.