Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in Flutter Entertainment plc (NYSE:FLUT) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,751,966 shares of the company’s stock after selling 76,873 shares during the quarter. Nuveen Asset Management LLC’s holdings in Flutter Entertainment were worth $454,451,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FLUT. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $25,000. Farther Finance Advisors LLC grew its stake in shares of Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $26,000. Finally, IFP Advisors Inc grew its stake in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after acquiring an additional 83 shares in the last quarter.

Insider Activity

In related news, 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 transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm’s 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,156 shares of company stock valued at $10,926,922.

Flutter Entertainment Stock Performance

FLUT opened at $248.74 on Thursday. The business’s 50 day moving average is $233.26 and its 200-day moving average is $253.78. The stock has a market cap of $43.95 billion and a PE ratio of 86.07. 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 twelve month low of $174.03 and a twelve month high of $299.73.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. On average, analysts predict that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FLUT. Stifel Nicolaus lowered their target price on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Citizens Jmp lowered their target price on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. UBS Group increased their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. BTIG Research reduced their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays reduced their price target on shares of Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $306.28.

Flutter Entertainment Company 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.