Capital Group Investment Management PTE. LTD. raised its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,475 shares of the company's stock after buying an additional 3,805 shares during the period. Capital Group Investment Management PTE. LTD.'s holdings in Flutter Entertainment were worth $4,000,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of FLUT. Vanguard Group Inc. grew its stake in shares of Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after purchasing an additional 299,300 shares during the last quarter. Norges Bank bought a new position in Flutter Entertainment in the 4th quarter valued at $946,681,000. FMR LLC increased its stake in shares of Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after buying an additional 25,422 shares during the period. Wellington Management Group LLP lifted its stake in shares of Flutter Entertainment by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company's stock valued at $688,081,000 after acquiring an additional 333,294 shares during the period. Finally, Cantillon Capital Management LLC boosted its holdings in Flutter Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company's stock valued at $622,911,000 after acquiring an additional 12,794 shares during the last quarter.
Insider Activity at Flutter Entertainment
In other news, 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 value of $3,077,547.00. Following the transaction, the chief executive officer now owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This represents a 15.80 % 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, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. The trade was 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 analysts have weighed in on the company. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. JMP Securities cut their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. BTIG Research lowered their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday. Truist Financial cut their price target on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, UBS Group lifted their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $306.67.
Read Our Latest Stock Analysis on FLUT
Flutter Entertainment Stock Performance
Shares of FLUT traded up $5.90 during mid-day trading on Wednesday, reaching $233.50. The company's stock had a trading volume of 942,298 shares, compared to its average volume of 1,770,347. 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 1-year low of $174.03 and a 1-year high of $299.73. The business has a 50-day simple moving average of $244.49 and a two-hundred day simple moving average of $252.83. The stock has a market cap of $41.44 billion and a P/E ratio of 1,061.36.
Flutter Entertainment Profile
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Free Report)
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.
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