Bessemer Group Inc. Grows Position in Flutter Entertainment plc (NYSE:FLUT)

Bessemer Group Inc. lifted its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,819 shares of the company's stock after purchasing an additional 57,317 shares during the quarter. Bessemer Group Inc. owned 0.22% of Flutter Entertainment worth $102,042,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FLUT. Norges Bank acquired a new position in Flutter Entertainment during the 4th quarter worth $946,681,000. Invesco Ltd. acquired a new position in Flutter Entertainment during the fourth quarter valued at approximately $621,680,000. Geode Capital Management LLC bought a new position in shares of Flutter Entertainment during the third quarter worth $436,599,000. State Street Corp increased its position in shares of Flutter Entertainment by 61,014.6% in 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 in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Flutter Entertainment during the 4th quarter valued at about $239,306,000.

Flutter Entertainment Trading Down 1.1 %

Flutter Entertainment stock traded down $2.54 during mid-day trading on Tuesday, hitting $230.04. The company's stock had a trading volume of 697,717 shares, compared to its average volume of 1,734,480. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average of $249.94 and a 200-day moving average of $253.33. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The stock has a market cap of $40.83 billion and a PE ratio of 1,045.64.

Insider Transactions at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent research reports. Susquehanna dropped their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Benchmark raised their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Citizens Jmp decreased their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, JMP Securities lowered their target price on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a research report on Monday. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $312.06.

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.