Cibc World Markets Corp reduced its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,047 shares of the company's stock after selling 2,307 shares during the quarter. Cibc World Markets Corp's holdings in Flutter Entertainment were worth $2,080,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of FLUT. Jennison Associates LLC bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $239,306,000. Vestcor Inc acquired a new position in Flutter Entertainment during the 3rd quarter worth approximately $815,000. DJE Kapital AG bought a new position in Flutter Entertainment in the 4th quarter valued at approximately $442,000. Sanctuary Advisors LLC bought a new position in Flutter Entertainment in the 3rd quarter valued at approximately $802,000. Finally, Benson Investment Management Company Inc. acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $5,116,000.
Analysts Set New Price Targets
Several brokerages have recently issued reports on FLUT. Barclays upped their price target on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Needham & Company LLC boosted their price target on Flutter Entertainment from $300.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Macquarie reiterated an "outperform" rating and issued a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $311.41.
View Our Latest Report on FLUT
Insiders Place Their Bets
In other news, CEO Amy Howe sold 11,814 shares of the company'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 in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the director now owns 21,148 shares of the company's stock, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Flutter Entertainment Trading Down 2.2 %
Shares of Flutter Entertainment stock traded down $5.39 on Tuesday, hitting $241.10. 2,948,742 shares of the company's stock traded hands, compared to its average volume of 1,477,047. The company has a market capitalization of $42.79 billion and a price-to-earnings ratio of 1,095.91. The company has a fifty day moving average of $262.66 and a two-hundred day moving average of $253.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73.
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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