Norges Bank acquired a new position in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,651,051 shares of the company's stock, valued at approximately $946,681,000. Norges Bank owned 2.06% of Flutter Entertainment as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLUT. Harvest Fund Management Co. Ltd acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC increased its stake in 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 buying an additional 82 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Flutter Entertainment in the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at $26,000. Finally, IFP Advisors Inc grew its holdings in shares of Flutter Entertainment by 244.1% during 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 in the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on FLUT. Susquehanna cut their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. Macquarie reiterated an "outperform" rating and set a $340.00 price target on shares of Flutter Entertainment in a report on Wednesday, March 5th. BTIG Research set a $323.00 price objective on Flutter Entertainment in a report on Monday, February 3rd. Truist Financial began coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They set a "buy" rating and a $330.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Nineteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $311.41.
Check Out Our Latest Report on Flutter Entertainment
Insider Transactions at Flutter Entertainment
In other news, Director Jeremy Peter Jackson sold 25,027 shares of the business'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 transaction of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of 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 trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Flutter Entertainment Stock Performance
FLUT stock traded down $0.28 on Tuesday, reaching $221.28. 1,458,083 shares of the company were exchanged, compared to its average volume of 2,005,485. The firm has a market capitalization of $39.27 billion and a PE ratio of 1,005.73. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The stock's fifty day moving average price is $260.34 and its 200 day moving average price is $254.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.
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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