Nomura Holdings Inc. Trims Stake in Flutter Entertainment plc (NYSE:FLUT)

Nomura Holdings Inc. decreased its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 32.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 87,963 shares of the company's stock after selling 41,337 shares during the quarter. Nomura Holdings Inc.'s holdings in Flutter Entertainment were worth $22,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLUT. Farther Finance Advisors LLC boosted its position 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 buying an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $25,000. BOCHK Asset Management Ltd bought a new position in Flutter Entertainment in the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. acquired a new position in Flutter Entertainment during the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc lifted its stake in Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after purchasing an additional 83 shares during the last quarter.

Insiders Place Their Bets

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at $16,396,130.50. The trade was a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,156 shares of company stock worth $10,926,922.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price objective 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. Needham & Company LLC reissued a "buy" rating and set a $310.00 price target on shares of Flutter Entertainment in a research report on Thursday, May 8th. Benchmark reissued a "buy" rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Citizens Jmp lowered their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, JMP Securities reduced their target price 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 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 data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $306.28.

Flutter Entertainment Price Performance

NYSE:FLUT traded up $0.81 during trading hours on Monday, hitting $249.82. The company's stock had a trading volume of 557,618 shares, compared to its average volume of 1,863,693. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve 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. The stock has a fifty day simple moving average of $233.96 and a 200-day simple moving average of $254.32. The company has a market capitalization of $44.14 billion and a P/E ratio of 86.38.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced 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 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 firm's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, analysts anticipate that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Flutter Entertainment 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.