The Manufacturers Life Insurance Company Trims Stake in Flutter Entertainment plc (NYSE:FLUT)

The Manufacturers Life Insurance Company cut its stake in Flutter Entertainment plc (NYSE:FLUT) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,552 shares of the company’s stock after selling 83 shares during the period. The Manufacturers Life Insurance Company’s holdings in Flutter Entertainment were worth $2,223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Harbor Investment Advisory LLC lifted its position in Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after buying an additional 50 shares during the period. Seelaus Asset Management LLC boosted its holdings in shares of Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after buying an additional 55 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock worth $446,000 after buying an additional 59 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter.

Flutter Entertainment Stock Down 2.7 %

FLUT opened at $234.76 on Friday. The firm’s 50 day simple moving average is $234.03 and its two-hundred day simple moving average is $253.56. The company has a market capitalization of $41.48 billion and a PE ratio of 81.23. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. 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) last released its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, equities analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of recent research reports. UBS Group upped their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. JMP Securities dropped their target price on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and an average price target of $306.28.

Flutter Entertainment Company 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.