Evelyn Partners Investment Management LLP Lowers Position in Flutter Entertainment PLC $FLUT

Evelyn Partners Investment Management LLP cut its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 47.6% in the first quarter, Holdings Channel reports. The fund owned 11,497 shares of the company’s stock after selling 10,463 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Flutter Entertainment were worth $1,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT increased its position in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the period. EFG International AG purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $36,000. IFP Advisors Inc boosted its stake in shares of Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Flutter Entertainment by 246.3% during the second 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 in the last quarter.

Flutter Entertainment Stock Up 4.4%

Shares of Flutter Entertainment stock opened at $105.72 on Tuesday. 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 $18.39 billion, a P/E ratio of -49.40, a PEG ratio of 1.39 and a beta of 1.31. The firm’s 50 day moving average price is $103.60 and its 200-day moving average price is $119.46. Flutter Entertainment PLC has a 52-week low of $91.52 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its 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. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. On average, sell-side analysts predict that Flutter Entertainment PLC will post 4.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on FLUT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Sanford C. Bernstein dropped their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company dropped their target price on Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Oppenheimer reduced their price target on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Activity

In other Flutter Entertainment news, CEO Daniel Mark Taylor bought 1,611 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the purchase, the chief executive officer directly owned 34,584 shares in the company, valued at $3,260,925.36. This represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolan Lennon sold 439 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the transaction, the director directly owned 1,688 shares in the company, valued at $159,735.44. This represents a 20.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Company Profile

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.