Invesco Ltd. acquired 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 filing with the Securities & Exchange Commission. The firm acquired 2,405,415 shares of the company's stock, valued at approximately $621,680,000. Invesco Ltd. owned 1.35% of Flutter Entertainment at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Flutter Entertainment in the 4th quarter worth $25,000. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 585.7% during the fourth 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 period. Raleigh Capital Management Inc. acquired a new position in Flutter Entertainment during the fourth quarter worth about $26,000. BOCHK Asset Management Ltd bought a new stake in Flutter Entertainment in the fourth quarter worth about $26,000. Finally, IFP Advisors Inc lifted its holdings 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 acquiring an additional 83 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Truist Financial started coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They set a "buy" rating and a $330.00 price objective for the company. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Benchmark lifted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $311.41.
View Our Latest Stock Report on FLUT
Insider Buying and Selling
In other news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction on 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 transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.
Flutter Entertainment Stock Up 0.8 %
Shares of NYSE:FLUT traded up $1.78 during trading on Friday, reaching $231.43. 2,606,505 shares of the company traded hands, compared to its average volume of 1,738,832. The firm has a fifty day simple moving average of $250.62 and a 200 day simple moving average 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 1-year low of $174.03 and a 1-year high of $299.73. The firm has a market cap of $41.07 billion and a P/E ratio of 1,051.94.
Flutter Entertainment Company Profile
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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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