Troluce Capital Advisors LLC Lowers Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Troluce Capital Advisors LLC reduced its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 90.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,992 shares of the company’s stock after selling 118,508 shares during the period. Flutter Entertainment makes up about 0.1% of Troluce Capital Advisors LLC’s portfolio, making the stock its 15th biggest holding. Troluce Capital Advisors LLC’s holdings in Flutter Entertainment were worth $3,358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new position in Flutter Entertainment in the fourth quarter valued at $390,000. Park Avenue Securities LLC purchased a new position in Flutter Entertainment in the fourth quarter valued at $669,000. Ritholtz Wealth Management boosted its holdings in Flutter Entertainment by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares during the period. Clarius Group LLC purchased a new position in Flutter Entertainment in the fourth quarter valued at $212,000. Finally, Artemis Investment Management LLP boosted its holdings in Flutter Entertainment by 9.2% in the fourth quarter. Artemis Investment Management LLP now owns 536,716 shares of the company’s stock valued at $139,004,000 after purchasing an additional 45,087 shares during the period.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred on 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 sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. The trade was a 15.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,156 shares of company stock worth $10,926,922 in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FLUT shares. Macquarie reiterated an “outperform” rating and issued a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Stifel Nicolaus cut their price target on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $310.00 price target 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, Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $306.28.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $249.23 on Friday. The stock has a market capitalization of $44.04 billion and a PE ratio of 86.24. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The stock’s 50-day moving average price is $233.96 and its 200 day moving average price is $254.17. 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 (NYSE:FLUT) last issued 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 company 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 was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. As a group, equities research analysts forecast that Flutter Entertainment plc will post 4.17 EPS for the current year.

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.