Flutter Entertainment plc (NYSE:FLUT - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 12,036 call options on the company. This represents an increase of approximately 690% compared to the typical volume of 1,523 call options.
Wall Street Analyst Weigh In
FLUT has been the topic of a number of research reports. Susquehanna decreased their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Benchmark boosted their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Needham & Company LLC upped their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. BTIG Research set a $323.00 target price on Flutter Entertainment in a report on Monday, February 3rd. Finally, Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Nineteen investment 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 currently has a consensus rating of "Buy" and an average price target of $311.41.
View Our Latest Stock Analysis on Flutter Entertainment
Flutter Entertainment Stock Down 5.4 %
Flutter Entertainment stock traded down $11.81 during mid-day trading on Friday, reaching $205.81. 3,987,203 shares of the company's stock were exchanged, compared to its average volume of 1,674,497. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment has a twelve month low of $174.03 and a twelve month high of $299.73. The company has a market cap of $36.53 billion and a P/E ratio of 935.50. The company has a fifty day moving average of $256.42 and a 200-day moving average of $253.77.
Insiders Place Their Bets
In other news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was 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 disclosure for this sale can be found here.
Hedge Funds Weigh In On Flutter Entertainment
Several hedge funds and other institutional investors have recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth $26,000. BOCHK Asset Management Ltd acquired a new position in shares of Flutter Entertainment during the fourth quarter worth $26,000. Finally, IFP Advisors Inc increased its holdings in Flutter Entertainment by 244.1% in the fourth 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.
Flutter Entertainment Company Profile
(
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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.
Further Reading
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