Christine M. Mccarthy Sells 264 Shares of Flutter Entertainment plc (NYSE:FLUT) Stock

Flutter Entertainment plc (NYSE:FLUT) Director Christine M. Mccarthy sold 264 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director now owns 559 shares in the company, valued at approximately $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $249.61 on Friday. 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 52-week low of $174.03 and a 52-week high of $299.73. The business’s 50-day moving average price is $236.90 and its 200 day moving average price is $253.79. The firm has a market cap of $44.10 billion and a P/E ratio of 86.37.

Flutter Entertainment (NYSE:FLUT) last released 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). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DJE Kapital AG purchased a new position in shares of Flutter Entertainment during the fourth quarter worth about $442,000. Bank of New York Mellon Corp boosted its holdings in Flutter Entertainment by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock valued at $51,642,000 after purchasing an additional 81,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Flutter Entertainment by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock valued at $170,913,000 after purchasing an additional 38,800 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in Flutter Entertainment by 244.4% in the 4th quarter. Plato Investment Management Ltd now owns 3,265 shares of the company’s stock valued at $847,000 after purchasing an additional 2,317 shares in the last quarter. Finally, Egerton Capital UK LLP boosted its holdings in Flutter Entertainment by 3.4% in the 4th quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock valued at $485,210,000 after purchasing an additional 61,833 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the topic of several analyst reports. Barclays reduced their price objective on Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Sanford C. Bernstein initiated coverage on Flutter Entertainment in a research note on Wednesday. They issued a “market perform” rating and a $275.00 price target on the stock. Macquarie restated an “outperform” rating and issued a $340.00 price target (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Benchmark restated a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Finally, Truist Financial cut their price target on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $303.79.

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.