Royal Bank of Canada reduced its position in Flutter Entertainment PLC by 71.0% during the first quarter. The bank sold 106,890 shares according to a recent 13F filing with the Securities & Exchange Commission. RBC now holds 43,710 shares. The remaining stake was valued at approximately $4.46 million at the end of the reporting period.
Flutter announced that second-quarter results missed consensus estimates in early August. The company reported a significant net loss for the period. It also saw a decline in adjusted EBITDA. These results were driven by lower U.S. sportsbook revenue and increased promotional spending. Management also lowered its full-year 2026 financial guidance.
CEO Peter Jackson is stepping down as part of a leadership transition. Director Carolan Lennon sold a small number of shares in May. These moves follow a series of analyst rating changes for the gaming firm.