TOMS Capital Investment Management LP Increases Stake in Flutter Entertainment plc (NYSE:FLUT)

TOMS Capital Investment Management LP increased its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 378,200 shares of the company's stock after purchasing an additional 7,931 shares during the period. Flutter Entertainment comprises about 3.6% of TOMS Capital Investment Management LP's investment portfolio, making the stock its 7th largest position. TOMS Capital Investment Management LP owned about 0.21% of Flutter Entertainment worth $97,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd acquired a new stake in Flutter Entertainment during the fourth quarter valued at approximately $25,000. 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 valued at $25,000 after buying an additional 82 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in Flutter Entertainment in the fourth quarter valued at $26,000. BOCHK Asset Management Ltd acquired a new position in Flutter Entertainment during the fourth quarter worth $26,000. Finally, IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after acquiring an additional 83 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLUT. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Truist Financial decreased their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Citizens Jmp dropped their price target on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus reduced their price objective on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $306.67.

Flutter Entertainment Trading Up 0.8 %

Shares of Flutter Entertainment stock traded up $1.83 during trading on Thursday, reaching $242.82. 1,534,081 shares of the company were exchanged, compared to its average volume of 1,819,310. The business has a 50-day moving average price of $237.79 and a 200-day moving average price of $252.76. The firm has a market capitalization of $42.92 billion and a price-to-earnings ratio of 1,103.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction on 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 sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction dated 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 represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.