2,349 Shares in Flutter Entertainment plc (NYSE:FLUT) Acquired by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. bought a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,349 shares of the company's stock, valued at approximately $598,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC acquired a new stake in Flutter Entertainment in the third quarter valued at approximately $436,599,000. State Street Corp increased its stake in Flutter Entertainment by 61,014.6% during the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company's stock worth $239,996,000 after buying an additional 1,009,792 shares during the period. Jennison Associates LLC acquired a new position in Flutter Entertainment in the 4th quarter worth $239,306,000. William Blair Investment Management LLC acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $137,958,000. Finally, FMR LLC increased its position in shares of Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after acquiring an additional 393,122 shares during the last quarter.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded down $8.94 during midday trading on Friday, hitting $228.35. 3,312,328 shares of the company's stock were exchanged, compared to its average volume of 1,609,239. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. 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 firm has a market cap of $40.53 billion and a P/E ratio of 1,037.97. The stock's 50 day moving average price is $261.17 and its 200-day moving average price is $253.91.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Susquehanna reduced their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Benchmark lifted their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Barclays increased their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Macquarie reissued an "outperform" rating and issued a $340.00 target price on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $311.41.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction that occurred 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 $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction on Thursday, March 6th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment 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.