Soros Capital Management LLC Has $22.64 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Soros Capital Management LLC trimmed its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,586 shares of the company's stock after selling 6,910 shares during the period. Flutter Entertainment makes up approximately 3.6% of Soros Capital Management LLC's holdings, making the stock its 9th biggest holding. Soros Capital Management LLC's holdings in Flutter Entertainment were worth $22,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Virtu Financial LLC raised its position in shares of Flutter Entertainment by 56.2% during the third quarter. Virtu Financial LLC now owns 7,371 shares of the company's stock worth $1,749,000 after purchasing an additional 2,652 shares during the period. Sanctuary Advisors LLC bought a new position in Flutter Entertainment in the third quarter valued at approximately $802,000. Lord Abbett & CO. LLC acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $24,464,000. Harbour Capital Advisors LLC bought a new stake in Flutter Entertainment in the 4th quarter valued at $505,000. Finally, Benson Investment Management Company Inc. acquired a new position in Flutter Entertainment in the 4th quarter worth $5,116,000.

Flutter Entertainment Stock Performance

NYSE FLUT traded up $2.57 on Friday, reaching $232.86. The stock had a trading volume of 2,359,805 shares, compared to its average volume of 1,798,092. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $41.33 billion and a P/E ratio of 1,058.45. The firm has a fifty day moving average of $240.54 and a two-hundred day moving average of $252.63. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73.

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction 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 in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the transaction, the director now directly owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several recent research reports. Needham & Company LLC lifted their price target on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Macquarie reissued an "outperform" rating and issued a $340.00 target price on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Truist Financial lowered their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, BTIG Research reduced 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. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flutter Entertainment currently has a consensus rating of "Buy" and an average price target of $306.67.

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.