Parvus Asset Management Europe Ltd Invests $2.15 Billion in Flutter Entertainment plc (NYSE:FLUT)

Parvus Asset Management Europe Ltd bought a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,304,227 shares of the company's stock, valued at approximately $2,146,227,000. Flutter Entertainment makes up about 100.0% of Parvus Asset Management Europe Ltd's portfolio, making the stock its largest holding. Parvus Asset Management Europe Ltd owned approximately 4.68% of Flutter Entertainment as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors lifted its stake in shares of Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after buying an additional 1,635,241 shares during the period. Vanguard Group Inc. lifted 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 worth $2,479,812,000 after buying an additional 299,300 shares during the period. Norges Bank acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth $946,681,000. FMR LLC lifted its stake in shares of Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock worth $881,349,000 after buying an additional 25,422 shares during the period. Finally, 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 worth $688,081,000 after buying an additional 333,294 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FLUT shares. Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Citizens Jmp decreased their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Benchmark restated a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, UBS Group raised their price target 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. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $306.67.

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction on 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 transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of 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 disclosure for this sale can be found here.

Flutter Entertainment Stock Performance

Shares of FLUT traded up $2.57 during mid-day trading on Friday, reaching $232.86. 2,359,805 shares of the company's stock were exchanged, compared to its average volume of 1,804,386. 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 stock has a market capitalization of $41.33 billion and a PE ratio of 1,058.45. The business's fifty day simple moving average is $240.54 and its 200-day simple moving average is $252.83. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73.

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.