The Manufacturers Life Insurance Company Sells 83 Shares of Flutter Entertainment plc (NYSE:FLUT)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 1.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,552 shares of the company’s stock after selling 83 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Flutter Entertainment were worth $2,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. raised its position in Flutter Entertainment by 58.8% during the fourth 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 increased its position in shares of Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in 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 during the period. Ritholtz Wealth Management lifted its position in Flutter Entertainment by 3.5% in the fourth 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 last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the period.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, 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 link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s 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 completion of the sale, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLUT. Barclays lowered their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday. BTIG Research decreased their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JMP Securities dropped their target price on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a research report on Monday, April 14th. Susquehanna decreased their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $306.28.

Flutter Entertainment Stock Down 2.7 %

Shares of Flutter Entertainment stock opened at $234.76 on Friday. The firm’s 50-day moving average is $234.03 and its two-hundred day moving average is $253.56. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The stock has a market cap of $41.48 billion and a price-to-earnings ratio of 81.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data 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 business 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%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, research analysts expect that Flutter Entertainment plc will post 4.17 earnings per share for the current fiscal 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.