Arrowstreet Capital Limited Partnership cut its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,225 shares of the company's stock after selling 14,177 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Flutter Entertainment were worth $5,239,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. acquired a new stake in shares of Flutter Entertainment in the third quarter valued at $279,000. HighTower Advisors LLC increased its holdings in Flutter Entertainment by 25.3% during the 3rd quarter. HighTower Advisors LLC now owns 5,249 shares of the company's stock worth $1,245,000 after purchasing an additional 1,061 shares during the period. Quantinno Capital Management LP raised its position in Flutter Entertainment by 19.9% in the 3rd quarter. Quantinno Capital Management LP now owns 9,990 shares of the company's stock valued at $2,370,000 after purchasing an additional 1,655 shares in the last quarter. State Street Corp boosted its stake in shares of Flutter Entertainment by 61,014.6% in the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company's stock valued at $239,996,000 after buying an additional 1,009,792 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $3,251,000.
Insider Activity
In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the business'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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred 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 completion of the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Flutter Entertainment Stock Performance
FLUT stock traded up $1.78 during trading on Friday, hitting $231.43. The company had a trading volume of 2,606,505 shares, compared to its average volume of 1,733,436. The firm has a 50-day moving average price of $250.62 and a 200-day moving average price of $253.31. 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 firm has a market cap of $41.07 billion and a PE ratio of 1,051.94. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73.
Analyst Ratings Changes
Several research firms have commented on FLUT. Susquehanna lowered their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. Truist Financial started coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They set a "buy" rating and a $330.00 target price for the company. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. BTIG Research set a $323.00 price target on Flutter Entertainment in a report on Monday, February 3rd. Finally, Benchmark increased their price objective on Flutter Entertainment from $275.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of "Buy" and a consensus target price of $311.41.
Check Out Our Latest Stock Report on Flutter Entertainment
About Flutter Entertainment
(
Free Report)
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.
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