Bornite Capital Management LP Has $10.34 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Bornite Capital Management LP lessened its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the company's stock after selling 10,000 shares during the period. Bornite Capital Management LP's holdings in Flutter Entertainment were worth $10,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FLUT. ExodusPoint Capital Management LP bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $18,106,000. Westpac Banking Corp acquired a new stake in Flutter Entertainment during the fourth quarter valued at approximately $296,000. Ardmore Road Asset Management LP boosted its holdings in Flutter Entertainment by 191.7% during the fourth quarter. Ardmore Road Asset Management LP now owns 189,594 shares of the company's stock valued at $49,001,000 after purchasing an additional 124,594 shares in the last quarter. Huntington National Bank grew its stake in shares of Flutter Entertainment by 2,885.7% in the 4th quarter. Huntington National Bank now owns 209 shares of the company's stock valued at $54,000 after purchasing an additional 202 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Flutter Entertainment by 39.5% in the 4th quarter. Trexquant Investment LP now owns 17,320 shares of the company's stock worth $4,476,000 after buying an additional 4,903 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, 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 value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company'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 value of $6,556,072.92. Following the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Stock Up 1.3 %

NYSE FLUT traded up $2.84 during trading on Wednesday, hitting $215.34. The stock had a trading volume of 1,379,112 shares, compared to its average volume of 1,699,124. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company's 50-day moving average price is $253.25 and its two-hundred day moving average price is $253.42. The company has a market capitalization of $38.22 billion and a PE ratio of 977.00.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Macquarie restated an "outperform" rating and set a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Benchmark raised their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. UBS Group boosted their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, JMP Securities upped their target price on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a "market outperform" rating in a research report on Monday, January 6th. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $311.41.

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.