Parallax Volatility Advisers L.P. Invests $388,000 in Flutter Entertainment plc (NYSE:FLUT)

Parallax Volatility Advisers L.P. bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,500 shares of the company's stock, valued at approximately $388,000.

A number of other hedge funds have also recently bought and sold shares of FLUT. Virtu Financial LLC grew its position in Flutter Entertainment by 56.2% in the third quarter. Virtu Financial LLC now owns 7,371 shares of the company's stock worth $1,749,000 after buying an additional 2,652 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter worth $24,464,000. Harbour Capital Advisors LLC acquired a new position in shares of Flutter Entertainment in the 4th quarter worth $505,000. Benson Investment Management Company Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $5,116,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $390,000.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the chief executive officer now owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $232.86 on Monday. The company's fifty day moving average is $240.54 and its 200-day moving average is $252.83. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The firm has a market cap of $41.33 billion and a price-to-earnings ratio of 1,058.45. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Wall Street Analyst Weigh In

Several research firms have issued reports on FLUT. Citizens Jmp cut their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. UBS Group raised their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Peel Hunt raised shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Benchmark reaffirmed a "buy" rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Finally, Macquarie reiterated an "outperform" rating and set a $340.00 price target on shares of Flutter Entertainment in a report on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flutter Entertainment currently has a consensus rating of "Buy" and a consensus target price of $306.67.

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.

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