Fmr LLC Grows Position in Flutter Entertainment plc (NYSE:FLUT)

FMR LLC lifted its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,401,092 shares of the company's stock after purchasing an additional 25,422 shares during the quarter. FMR LLC owned 1.92% of Flutter Entertainment worth $881,349,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $239,306,000. Vestcor Inc bought a new position in Flutter Entertainment during the 3rd quarter valued at $815,000. DJE Kapital AG purchased a new position in Flutter Entertainment during the 4th quarter worth $442,000. Sanctuary Advisors LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth $802,000. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $5,116,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLUT shares. Truist Financial began coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They issued a "buy" rating and a $330.00 price objective for the company. Barclays upped their target price on Flutter Entertainment from $301.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Benchmark lifted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Finally, JMP Securities raised their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a "market outperform" rating in a research report on Monday, January 6th. Nineteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of "Buy" and a consensus price target of $311.41.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment 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 of the company's stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the director now owns 21,148 shares in the company, valued at $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 Price Performance

FLUT stock traded up $1.78 during mid-day trading on Friday, hitting $231.43. The company had a trading volume of 2,606,505 shares, compared to its average volume of 1,738,832. The company has a market capitalization of $41.07 billion and a price-to-earnings ratio of 1,051.94. The company has a 50-day moving average price of $250.62 and a 200 day moving average price of $253.37. 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 plc has a 12-month low of $174.03 and a 12-month high of $299.73.

Flutter Entertainment Profile

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.