Diametric Capital LP reduced its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,967 shares of the company's stock after selling 1,839 shares during the quarter. Flutter Entertainment makes up approximately 2.6% of Diametric Capital LP's portfolio, making the stock its biggest position. Diametric Capital LP's holdings in Flutter Entertainment were worth $3,869,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after buying an additional 299,300 shares during the period. Norges Bank purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $946,681,000. Wellington Management Group LLP raised its holdings in shares of Flutter Entertainment by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company's stock valued at $688,081,000 after purchasing an additional 333,294 shares in the last quarter. Cantillon Capital Management LLC raised its holdings in shares of Flutter Entertainment by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company's stock valued at $622,911,000 after purchasing an additional 12,794 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its position in shares of Flutter Entertainment by 3.4% during the 4th quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company's stock worth $485,210,000 after purchasing an additional 61,833 shares during the last quarter.
Insider Activity
In related news, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.
Analysts Set New Price Targets
A number of research firms have weighed in on FLUT. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Truist Financial began coverage on Flutter Entertainment in a report on Wednesday, February 26th. They issued a "buy" rating and a $330.00 price target for the company. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Finally, Susquehanna lowered their target price 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. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Flutter Entertainment has an average rating of "Buy" and an average target price of $311.41.
Read Our Latest Report on Flutter Entertainment
Flutter Entertainment Stock Performance
FLUT traded down $12.26 on Thursday, hitting $217.19. 2,788,092 shares of the company traded hands, compared to its average volume of 1,651,114. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. The company has a 50 day moving average of $258.66 and a 200-day moving average of $254.00. 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 stock has a market capitalization of $38.54 billion and a PE ratio of 987.22.
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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