First Trust Advisors LP Has $147.85 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

First Trust Advisors LP lifted its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 49,470.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,042 shares of the company's stock after purchasing an additional 570,888 shares during the quarter. First Trust Advisors LP owned 0.32% of Flutter Entertainment worth $147,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings 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 worth $2,479,812,000 after buying an additional 299,300 shares in the last quarter. Norges Bank bought a new stake in Flutter Entertainment in the fourth quarter valued at $946,681,000. FMR LLC raised its stake in Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock worth $881,349,000 after acquiring an additional 25,422 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Flutter Entertainment by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company's stock valued at $688,081,000 after acquiring an additional 333,294 shares during the period. Finally, Cantillon Capital Management LLC boosted its stake 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.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BTIG Research dropped their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Stifel Nicolaus reduced their target price on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating on the stock in a report on Tuesday. Benchmark reaffirmed a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a report on Monday. Finally, Susquehanna reduced their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $306.67.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company's stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the transaction, the chief executive officer now owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 0.8 %

NYSE FLUT traded down $1.79 during trading hours on Thursday, hitting $230.12. The company's stock had a trading volume of 2,924,917 shares, compared to its average volume of 2,153,204. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The firm has a market capitalization of $40.84 billion and a P/E ratio of 1,046.00. 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 fifty day moving average of $243.14 and a 200 day moving average of $252.69.

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.