Laurion Capital Management LP Sells 1,977 Shares of Flutter Entertainment plc (NYSE:FLUT)

Laurion Capital Management LP decreased its position in Flutter Entertainment plc (NYSE:FLUT) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,108 shares of the company’s stock after selling 1,977 shares during the quarter. Laurion Capital Management LP’s holdings in Flutter Entertainment were worth $4,422,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment in the 4th quarter worth about $25,000. Farther Finance Advisors LLC increased 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 purchasing an additional 82 shares in the last quarter. BOCHK Asset Management Ltd bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc increased 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 purchasing an additional 83 shares in the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of analyst reports. Macquarie reaffirmed an “outperform” rating and set a $340.00 price objective (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday. Stifel Nicolaus reduced their price target on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. BTIG Research reduced their price target on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group raised their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $306.28.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $234.76 on Monday. 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 plc has a one year low of $174.03 and a one year high of $299.73. The firm has a market capitalization of $41.48 billion and a P/E ratio of 81.23. The business has a fifty day moving average of $234.03 and a 200 day moving average of $253.74.

Flutter Entertainment (NYSE:FLUT) last released 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). The firm 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 company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here.

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.