State of Wyoming Sells 6,063 Shares of Flutter Entertainment PLC $FLUT

State of Wyoming cut its position in Flutter Entertainment PLC (NYSE:FLUT) by 88.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 782 shares of the company’s stock after selling 6,063 shares during the period. State of Wyoming’s holdings in Flutter Entertainment were worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Flutter Entertainment in the second quarter worth about $405,000. Creative Planning purchased a new stake in shares of Flutter Entertainment during the second quarter worth about $296,000. Northwestern Mutual Wealth Management Co. raised its stake in Flutter Entertainment by 246.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after purchasing an additional 106 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In related news, insider Don H. Liu purchased 1,459 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $102.78 per share, for a total transaction of $149,956.02. Following the completion of the transaction, the insider directly owned 22,265 shares in the company, valued at $2,288,396.70. This represents a 7.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO James Philip Bishop acquired 1,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Company insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $105.80 on Tuesday. The company’s 50-day moving average price is $104.46 and its 200-day moving average price is $115.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a market cap of $18.41 billion, a PE ratio of -49.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLUT shares. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, July 8th. Truist Financial dropped their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Moffett Nathanson downgraded shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Finally, Benchmark decreased their price target on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $176.00.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.