Capital World Investors boosted its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,426,515 shares of the company's stock after purchasing an additional 1,635,241 shares during the quarter. Capital World Investors owned about 8.69% of Flutter Entertainment worth $3,986,968,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. First Trust Advisors LP grew its stake in shares of Flutter Entertainment by 49,470.4% in the fourth quarter. First Trust Advisors LP now owns 572,042 shares of the company's stock worth $147,851,000 after acquiring an additional 570,888 shares during the last quarter. Capital International Ltd. CA boosted its stake in Flutter Entertainment by 36.9% in the 4th quarter. Capital International Ltd. CA now owns 11,445 shares of the company's stock worth $2,958,000 after purchasing an additional 3,086 shares in the last quarter. Capital Group Investment Management PTE. LTD. boosted its stake in Flutter Entertainment by 32.6% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 15,475 shares of the company's stock worth $4,000,000 after purchasing an additional 3,805 shares in the last quarter. Capital International Sarl grew its position in Flutter Entertainment by 39.1% during the 4th quarter. Capital International Sarl now owns 107,145 shares of the company's stock valued at $27,688,000 after purchasing an additional 30,092 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Flutter Entertainment by 21.7% during the 4th quarter. NewEdge Advisors LLC now owns 1,358 shares of the company's stock valued at $352,000 after purchasing an additional 242 shares in the last quarter.
Flutter Entertainment Price Performance
NYSE:FLUT traded up $5.58 during trading hours on Tuesday, hitting $227.08. 2,055,019 shares of the stock traded hands, compared to its average volume of 1,773,518. The company has a market cap of $40.30 billion and a price-to-earnings ratio of 1,032.20. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The stock has a 50 day moving average price of $245.59 and a 200 day moving average price of $253.01. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.
Analyst Upgrades and Downgrades
Several analysts have commented on FLUT shares. BTIG Research cut their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday. Susquehanna dropped their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research report on Wednesday, March 5th. Barclays decreased their target price on Flutter Entertainment from $308.00 to $300.00 and set an "overweight" rating for the company in a research report on Tuesday. Macquarie reaffirmed an "outperform" rating and set a $340.00 price target on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Truist Financial started coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They set a "buy" rating and a $330.00 price objective for the company. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $309.44.
Check Out Our Latest Analysis on Flutter Entertainment
Insider Activity
In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment 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 sale, the chief executive officer now owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, 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 disclosure for this sale can be found here.
Flutter Entertainment Company Profile
(
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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