Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 96.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 179,603 shares of the company's stock after selling 5,308,229 shares during the period. Hsbc Holdings PLC owned approximately 0.10% of Flutter Entertainment worth $46,650,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Flutter Entertainment during the 4th quarter valued at about $946,681,000. Invesco Ltd. acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth about $621,680,000. Capital World Investors boosted its position in Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the last quarter. Jennison Associates LLC acquired a new position in Flutter Entertainment in the 4th quarter worth approximately $239,306,000. Finally, First Trust Advisors LP raised its position in Flutter Entertainment by 49,470.4% during the 4th quarter. First Trust Advisors LP now owns 572,042 shares of the company's stock worth $147,851,000 after buying an additional 570,888 shares during the last quarter.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the company'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 sale, the director now owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction dated 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 sale, 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 Price Performance

Shares of NYSE FLUT traded up $1.00 during midday trading on Wednesday, hitting $239.62. The stock had a trading volume of 312,969 shares, compared to its average volume of 1,805,016. The stock has a 50 day simple moving average of $238.42 and a 200-day simple moving average of $252.84. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $42.53 billion and a PE ratio of 1,088.10.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. UBS Group upped their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays reduced their price objective on Flutter Entertainment from $308.00 to $300.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC boosted their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Flutter Entertainment currently has a consensus rating of "Buy" and an average price target of $306.67.

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.