Franklin Resources Inc. grew its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,316 shares of the company's stock after purchasing an additional 2,304 shares during the period. Franklin Resources Inc.'s holdings in Flutter Entertainment were worth $12,786,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in FLUT. Norges Bank purchased a new position in Flutter Entertainment in the fourth quarter valued at about $946,681,000. Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $436,599,000. State Street Corp boosted its stake in shares of Flutter Entertainment by 61,014.6% during the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company's stock valued at $239,996,000 after buying an additional 1,009,792 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $239,306,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Flutter Entertainment in the fourth quarter worth $137,958,000.
Insider Buying and Selling at Flutter Entertainment
In other Flutter Entertainment 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 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 trade represents a 15.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction dated 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 sale, the director now 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.
Flutter Entertainment Stock Performance
Shares of NYSE FLUT traded up $1.78 during midday trading on Friday, hitting $231.43. 2,606,505 shares of the company's stock were exchanged, compared to its average volume of 1,733,436. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The firm has a market cap of $41.07 billion and a P/E ratio of 1,051.94. The stock's 50 day moving average price is $250.62 and its 200-day moving average price is $253.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They set a "buy" rating and a $320.00 price objective for the company. Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Benchmark increased their target price on Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. UBS Group lifted their target price on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Macquarie restated an "outperform" rating and set a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $311.41.
Check Out Our Latest Research Report on FLUT
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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