Wellington Management Group LLP Has $688.08 Million Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Wellington Management Group LLP grew its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 14.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,652,843 shares of the company's stock after acquiring an additional 333,294 shares during the period. Wellington Management Group LLP owned 1.49% of Flutter Entertainment worth $688,081,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Flutter Entertainment by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after acquiring an additional 299,300 shares during the last quarter. Norges Bank bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $946,681,000. Cantillon Capital Management LLC grew its holdings in Flutter Entertainment by 0.5% during the fourth 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 during the last quarter. Egerton Capital UK LLP raised its position in shares of Flutter Entertainment by 3.4% in the fourth quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company's stock valued at $485,210,000 after purchasing an additional 61,833 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of Flutter Entertainment in the third quarter worth $436,599,000.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock traded down $12.26 during mid-day trading on Thursday, reaching $217.19. 2,788,092 shares of the stock were exchanged, compared to its average volume of 1,651,114. The company has a market cap of $38.54 billion and a price-to-earnings ratio of 987.22. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $258.66 and a 200 day simple moving average of $254.00.

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Analysts Set New Price Targets

Several brokerages recently commented on FLUT. Stifel Nicolaus began coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a "buy" rating and a $320.00 target price on the stock. UBS Group increased their target price on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Macquarie reissued an "outperform" rating and issued a $340.00 price target on shares of Flutter Entertainment in a report on Wednesday, March 5th. Susquehanna lowered their price target 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. Finally, Needham & Company LLC upped their price target on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $311.41.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction dated 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 in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 62,941 shares of the company's stock, valued at $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

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.