Flutter Entertainment plc (NYSE:FLUT) is Dnca Finance's Largest Position

Dnca Finance trimmed its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490,751 shares of the company's stock after selling 35,324 shares during the period. Flutter Entertainment makes up approximately 9.9% of Dnca Finance's holdings, making the stock its biggest holding. Dnca Finance owned 0.28% of Flutter Entertainment worth $127,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment during the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its holdings 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 valued at $25,000 after buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at $26,000. BOCHK Asset Management Ltd purchased a new position in Flutter Entertainment in the 4th quarter worth $26,000. Finally, IFP Advisors Inc lifted its position in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after acquiring an additional 83 shares during the period.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm'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 completion of the transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This trade 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 research analysts have recently weighed in on FLUT shares. BTIG Research cut their price objective on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday. Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Truist Financial assumed coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They set a "buy" rating and a $330.00 price objective for the company. Needham & Company LLC increased their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $309.44.

Flutter Entertainment Price Performance

Shares of FLUT stock traded up $5.58 on Tuesday, reaching $227.08. 2,055,019 shares of the company were exchanged, 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 business has a 50-day moving average price of $245.59 and a 200 day moving average price of $253.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

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.