Third Point LLC Has $224.85 Million Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Third Point LLC lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 70.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 870,000 shares of the company's stock after acquiring an additional 360,000 shares during the quarter. Flutter Entertainment comprises approximately 3.0% of Third Point LLC's holdings, making the stock its 10th biggest holding. Third Point LLC owned approximately 0.49% of Flutter Entertainment worth $224,852,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FLUT. Voleon Capital Management LP acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at about $1,769,000. Soros Fund Management LLC lifted its stake in Flutter Entertainment by 31.5% in the fourth quarter. Soros Fund Management LLC now owns 150,833 shares of the company's stock valued at $38,983,000 after buying an additional 36,107 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Flutter Entertainment by 206.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 100,668 shares of the company's stock worth $26,018,000 after acquiring an additional 67,800 shares during the last quarter. TOMS Capital Investment Management LP increased its holdings in shares of Flutter Entertainment by 2.1% in the 4th quarter. TOMS Capital Investment Management LP now owns 378,200 shares of the company's stock worth $97,746,000 after acquiring an additional 7,931 shares during the period. Finally, AQR Capital Management LLC lifted its position in Flutter Entertainment by 96.1% in the 4th quarter. AQR Capital Management LLC now owns 131,401 shares of the company's stock valued at $33,961,000 after purchasing an additional 64,394 shares during the last quarter.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $6.29 during trading hours on Friday, hitting $248.40. 1,354,624 shares of the company traded hands, compared to its average volume of 1,828,415. 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 stock has a market capitalization of $43.90 billion and a price-to-earnings ratio of 1,129.09. The firm has a 50-day moving average of $237.02 and a 200 day moving average of $253.17. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, 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 transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm'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 transaction of $3,077,547.00. Following the sale, 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 position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

FLUT has been the topic of a number of recent analyst reports. Barclays cut their price target on Flutter Entertainment from $308.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Susquehanna decreased their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research report on Wednesday, March 5th. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Benchmark restated a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Finally, JMP Securities cut their price target 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. Twenty 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, the company has a consensus rating of "Buy" and a consensus 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.