ExodusPoint Capital Management LP Acquires Shares of 70,058 Flutter Entertainment plc (NYSE:FLUT)

ExodusPoint Capital Management LP acquired a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,058 shares of the company's stock, valued at approximately $18,106,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $25,000. 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 stake in Flutter Entertainment in the 4th quarter valued at $26,000. Finally, IFP Advisors Inc boosted its stake 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 purchasing an additional 83 shares during the period.

Insider Activity at Flutter Entertainment

In related news, 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 completion of the sale, the director now owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

NYSE:FLUT traded up $24.56 during trading hours on Wednesday, reaching $237.06. 4,330,930 shares of the company's stock were exchanged, compared to its average volume of 1,716,259. The company has a market capitalization of $42.07 billion and a P/E ratio of 1,077.52. 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 business's 50-day simple moving average is $251.95 and its two-hundred day simple moving average is $253.36. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of analyst reports. Macquarie restated an "outperform" rating and set a $340.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, March 5th. BTIG Research set a $323.00 price objective on Flutter Entertainment in a research report on Monday, February 3rd. JMP Securities raised their target price on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, Susquehanna lowered their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $311.41.

About Flutter Entertainment

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.