Alliancebernstein L.P. Sells 32,434 Shares of Flutter Entertainment plc (NYSE:FLUT)

Alliancebernstein L.P. cut its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,017 shares of the company's stock after selling 32,434 shares during the quarter. Alliancebernstein L.P.'s holdings in Flutter Entertainment were worth $9,050,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FLUT. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment in the fourth quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment in the 4th quarter valued at about $26,000. BOCHK Asset Management Ltd bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc lifted its holdings in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after buying an additional 83 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on FLUT. Barclays lifted their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Truist Financial initiated coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They set a "buy" rating and a $330.00 target price for the company. Wells Fargo & Company lifted their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Finally, JMP Securities reduced their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating on the stock in a research note on Monday. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $312.06.

Insider Buying and Selling at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 of the company's stock, valued at $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 Stock Performance

FLUT stock traded down $3.73 during midday trading on Wednesday, hitting $226.17. The company's stock had a trading volume of 466,993 shares, compared to its average volume of 1,739,840. The stock has a market cap of $40.14 billion and a price-to-earnings ratio of 1,027.99. The stock's 50-day moving average price is $249.21 and its 200 day moving average price is $253.16. 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 1 year low of $174.03 and a 1 year 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.