Dodge & Cox Increases Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Dodge & Cox increased its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,878 shares of the company's stock after acquiring an additional 4,400 shares during the period. Dodge & Cox owned approximately 0.35% of Flutter Entertainment worth $162,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $26,000. BOCHK Asset Management Ltd bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc raised its holdings in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after acquiring an additional 83 shares during the last quarter.

Insider Activity

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were 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 directly 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 Price Performance

Shares of FLUT traded up $0.24 during trading hours on Friday, reaching $227.42. 1,658,665 shares of the stock traded hands, compared to its average volume of 1,768,771. The company has a market cap of $40.36 billion and a P/E ratio of 1,033.70. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company's 50-day moving average price is $246.72 and its two-hundred day moving average price is $253.00. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLUT. Wells Fargo & Company increased their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Benchmark lifted their price objective on Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. UBS Group upped their target price 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. Susquehanna reduced their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Finally, Truist Financial assumed coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They set a "buy" rating and a $330.00 price objective on the stock. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $312.06.

About Flutter Entertainment

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.