Platinum Investment Management Ltd. decreased its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,000 shares of the company's stock after selling 11,000 shares during the quarter. Flutter Entertainment accounts for approximately 0.6% of Platinum Investment Management Ltd.'s holdings, making the stock its 24th biggest holding. Platinum Investment Management Ltd.'s holdings in Flutter Entertainment were worth $10,360,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Flutter Entertainment in the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd acquired a new position in Flutter Entertainment during the 4th quarter worth $26,000. IFP Advisors Inc boosted its position in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its position in Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock valued at $33,000 after buying an additional 50 shares during the last quarter.
Insider Activity
In other news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the transaction, the director now owns 21,148 shares of the company's stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the company'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 completion of 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 ownership of the stock. The disclosure for this sale can be found here.
Flutter Entertainment Price Performance
Shares of FLUT stock traded up $0.35 during trading on Friday, hitting $241.20. The company had a trading volume of 5,441,403 shares, compared to its average volume of 1,468,143. The stock's 50-day moving average price is $263.22 and its 200 day moving average price is $253.14. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. 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 firm has a market capitalization of $42.81 billion and a P/E ratio of 1,096.37.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on FLUT. Benchmark upped their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. 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 price objective on the stock. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a report on Monday, February 3rd. Wells Fargo & Company increased their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Macquarie reaffirmed an "outperform" rating and set a $340.00 price objective on shares of Flutter Entertainment in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $311.41.
View Our Latest Stock 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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