Millennium Management LLC Has $93.69 Million Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Millennium Management LLC reduced its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 51.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,514 shares of the company's stock after selling 388,233 shares during the period. Millennium Management LLC owned 0.20% of Flutter Entertainment worth $93,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Flutter Entertainment by 163.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,242 shares of the company's stock worth $321,000 after buying an additional 771 shares during the period. Moore Capital Management LP lifted its position in Flutter Entertainment by 622.2% during the 4th quarter. Moore Capital Management LP now owns 87,565 shares of the company's stock worth $22,631,000 after acquiring an additional 75,440 shares during the last quarter. Lighthouse Investment Partners LLC boosted its holdings in Flutter Entertainment by 31.2% during the fourth quarter. Lighthouse Investment Partners LLC now owns 47,394 shares of the company's stock valued at $12,249,000 after acquiring an additional 11,275 shares during the period. Investment Management Corp of Ontario increased its stake in shares of Flutter Entertainment by 39.3% in the fourth quarter. Investment Management Corp of Ontario now owns 8,217 shares of the company's stock worth $2,124,000 after purchasing an additional 2,317 shares during the period. Finally, Gotham Asset Management LLC bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $452,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FLUT shares. Susquehanna decreased their target price 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 reduced their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Macquarie reiterated an "outperform" rating and set a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, JMP Securities reduced their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $306.28.

Flutter Entertainment Price Performance

FLUT stock traded down $3.56 during trading on Tuesday, hitting $245.79. The company had a trading volume of 388,581 shares, compared to its average volume of 2,078,844. The company has a fifty day moving average price of $234.25 and a two-hundred day moving average price of $254.45. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a market cap of $43.43 billion and a P/E ratio of 85.05. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

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 analysts' consensus estimates of $1.89 by ($0.30). The firm 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%. Flutter Entertainment's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. Equities research analysts expect that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, 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 transaction of $729,600.00. Following the sale, the chief operating officer now owns 4,712 shares of the company's stock, valued at $1,145,958.40. This represents a 38.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,156 shares of company stock valued at $10,926,922 in the last three months.

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.