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

Troluce Capital Advisors LLC decreased its stake in Flutter Entertainment plc (NYSE:FLUT) by 90.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,992 shares of the company’s stock after selling 118,508 shares during the quarter. Flutter Entertainment comprises 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming increased its stake in Flutter Entertainment by 19.1% in the fourth quarter. State of Wyoming now owns 536 shares of the company’s stock worth $139,000 after purchasing an additional 86 shares during the period. Scientech Research LLC purchased a new position in Flutter Entertainment in the fourth quarter valued at about $1,421,000. Shellback Capital LP bought a new position in Flutter Entertainment in the fourth quarter worth about $10,338,000. Sora Investors LLC raised its holdings in Flutter Entertainment by 5.6% in the fourth quarter. Sora Investors LLC now owns 47,528 shares of the company’s stock worth $12,284,000 after purchasing an additional 2,528 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Flutter Entertainment by 5.8% during the 4th quarter. Royal Bank of Canada now owns 320,884 shares of the company’s stock worth $82,932,000 after buying an additional 17,594 shares during the last quarter.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $249.23 on Friday. The company has a market capitalization of $44.04 billion and a P/E ratio of 86.24. The business’s 50 day moving average is $233.96 and its two-hundred day moving average is $254.17. 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 plc has a 12-month low of $174.03 and a 12-month high of $299.73.

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 analysts’ consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Analysts Set New Price Targets

FLUT has been the topic of several research analyst reports. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Citizens Jmp cut their price objective on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Truist Financial cut their price objective on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie reissued an “outperform” rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $306.28.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Amy Howe sold 2,315 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the completion of the sale, the chief executive officer now owns 73,947 shares of the company’s stock, valued at approximately $18,006,094.50. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Philip Bishop sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the sale, the chief operating officer now directly owns 4,712 shares of the company’s stock, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,156 shares of company stock valued at $10,926,922 over the last quarter.

Flutter Entertainment 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.