Capital Research Global Investors lowered its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,258,054 shares of the company's stock after selling 1,711,140 shares during the quarter. Capital Research Global Investors owned about 6.34% of Flutter Entertainment worth $2,909,636,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment in the 4th quarter worth $25,000. Farther Finance Advisors LLC increased its stake in shares of Flutter Entertainment by 585.7% during the fourth 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 period. Raleigh Capital Management Inc. purchased a new position in Flutter Entertainment during the fourth quarter worth about $26,000. BOCHK Asset Management Ltd acquired a new stake in Flutter Entertainment in the fourth quarter valued at about $26,000. Finally, IFP Advisors Inc boosted its holdings in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares in the last quarter.
Flutter Entertainment Trading Up 1.9 %
Shares of NYSE FLUT traded up $4.22 on Wednesday, reaching $231.82. 1,518,132 shares of the company traded hands, compared to its average volume of 2,143,239. The company has a 50 day moving average of $244.49 and a 200 day moving average of $252.83. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock has a market capitalization of $41.14 billion and a PE ratio of 1,053.73.
Insider Buying and Selling at Flutter Entertainment
In related news, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction that occurred 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 owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on FLUT shares. Macquarie reaffirmed an "outperform" rating and set a $340.00 price target on shares of Flutter Entertainment in a research note on Wednesday, March 5th. BTIG Research dropped their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday. Stifel Nicolaus lowered their price target on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday. Benchmark reaffirmed a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Monday. Finally, Susquehanna lowered their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $306.67.
Get Our Latest Report on FLUT
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.
Further Reading
Before you consider Flutter Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Flutter Entertainment wasn't on the list.
While Flutter Entertainment currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
