DnB Asset Management AS Raises Holdings in Flutter Entertainment plc (NYSE:FLUT)

DnB Asset Management AS grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,421 shares of the company's stock after acquiring an additional 2,586 shares during the quarter. DnB Asset Management AS's holdings in Flutter Entertainment were worth $8,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in Flutter Entertainment during the 4th quarter worth approximately $946,681,000. Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment during the third quarter worth $436,599,000. State Street Corp increased its holdings in shares of Flutter Entertainment by 61,014.6% during the third 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 in the last quarter. Jennison Associates LLC bought a new position in shares of Flutter Entertainment in the 4th quarter valued at $239,306,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at $137,958,000.

Analyst Ratings Changes

FLUT has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Benchmark boosted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Susquehanna decreased their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Finally, JMP Securities lifted their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a report on Monday, January 6th. Nineteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $311.41.

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Flutter Entertainment Trading Down 5.4 %

FLUT stock traded down $12.38 during mid-day trading on Thursday, reaching $217.07. The company's stock had a trading volume of 1,234,208 shares, compared to its average volume of 1,645,160. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The business's 50 day moving average price is $258.66 and its 200 day moving average price is $254.00. The company has a market cap of $38.52 billion and a price-to-earnings ratio of 986.68.

Insider Activity

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the 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 approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, 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 position. 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.