Point72 Asset Management L.P. Sells 29,199 Shares of Flutter Entertainment plc (NYSE:FLUT)

Point72 Asset Management L.P. reduced its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 554,684 shares of the company's stock after selling 29,199 shares during the period. Point72 Asset Management L.P. owned about 0.31% of Flutter Entertainment worth $143,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital World Investors lifted its position in shares of Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 299,300 shares during the last quarter. Parvus Asset Management Europe Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $2,146,227,000. Norges Bank acquired a new position in Flutter Entertainment in the fourth quarter worth $946,681,000. Finally, FMR LLC lifted its position in Flutter Entertainment by 0.8% during the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock worth $881,349,000 after buying an additional 25,422 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $248.74 on Thursday. The firm has a market capitalization of $43.95 billion and a P/E ratio of 86.07. The firm's 50-day moving average price is $233.26 and its 200-day moving average price is $253.78. 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 plc has a 1-year low of $174.03 and a 1-year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (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 business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Equities research analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FLUT shares. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Macquarie restated an "outperform" rating and issued a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. 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. Truist Financial lowered their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, UBS Group lifted their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. 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, Flutter Entertainment presently has a consensus rating of "Buy" and a consensus price target of $306.28.

Insider Buying and Selling

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business'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 trade represents a 54.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,156 shares of company stock valued at $10,926,922.

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.

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