Flutter Entertainment PLC $FLUT Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its stake in Flutter Entertainment PLC (NYSE:FLUT) by 44.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,080 shares of the company’s stock after selling 7,920 shares during the period. Independence Bank of Kentucky’s holdings in Flutter Entertainment were worth $1,030,000 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Flutter Entertainment by 5.6% during 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 during the last quarter. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment in the second quarter valued at approximately $405,000. Creative Planning acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after acquiring an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after acquiring an additional 106 shares during the last quarter.

Insiders Place Their Bets

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total value of $197,091.84. Following the completion of the transaction, the chief executive officer directly owned 72,214 shares of the company’s stock, valued at $6,739,010.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FLUT shares. Stifel Nicolaus decreased their price target on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. BNP Paribas Exane started coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective on the stock. Wall Street Zen cut shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group decreased their target price on shares of Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Wells Fargo & Company lowered their price target on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.76.

Flutter Entertainment Trading Up 5.3%

Shares of FLUT opened at $102.13 on Thursday. Flutter Entertainment PLC has a twelve month low of $89.71 and a twelve month high of $299.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $17.72 billion, a P/E ratio of -23.75, a PEG ratio of 2.46 and a beta of 1.26. The firm’s 50-day moving average is $102.61 and its two-hundred day moving average is $104.92.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. Flutter Entertainment’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.95 earnings per share. On average, research analysts predict that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Flutter Entertainment 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.