Ilmarinen Mutual Pension Insurance Co Takes $11.63 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 45,000 shares of the company's stock, valued at approximately $11,630,000.

Several other large investors have also recently bought and sold shares of FLUT. Vanguard Group Inc. lifted its position in shares of Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock worth $2,479,812,000 after purchasing an additional 299,300 shares during the period. Norges Bank bought a new position in Flutter Entertainment in the 4th quarter valued at approximately $946,681,000. Wellington Management Group LLP lifted its stake in Flutter Entertainment by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company's stock valued at $688,081,000 after acquiring an additional 333,294 shares during the period. Cantillon Capital Management LLC boosted its holdings in Flutter Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company's stock worth $622,911,000 after purchasing an additional 12,794 shares during the last quarter. Finally, Egerton Capital UK LLP lifted its holdings in 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 acquiring an additional 61,833 shares during the period.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated 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 transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 0.6 %

Shares of NYSE:FLUT traded down $1.33 during mid-day trading on Friday, reaching $228.32. The stock had a trading volume of 1,304,303 shares, compared to its average volume of 1,722,843. The firm has a 50 day simple moving average of $251.27 and a two-hundred day simple moving average of $253.37. 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 market cap of $40.52 billion and a PE ratio of 1,037.45. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of analyst reports. Susquehanna lowered their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. UBS Group increased their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Stifel Nicolaus initiated coverage on Flutter Entertainment in a research report on Friday, January 17th. They issued a "buy" rating and a $320.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $311.41.

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.