Parvus Asset Management Europe Ltd Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,304,227 shares of the company's stock, valued at approximately $2,146,227,000. Flutter Entertainment makes up 100.0% of Parvus Asset Management Europe Ltd's holdings, making the stock its biggest holding. Parvus Asset Management Europe Ltd owned about 4.68% of Flutter Entertainment as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Stifel Financial Corp acquired a new position in Flutter Entertainment during the fourth quarter worth $1,401,000. OneDigital Investment Advisors LLC bought a new stake in shares of Flutter Entertainment during the 4th quarter worth about $1,287,000. Senator Investment Group LP increased its holdings in shares of Flutter Entertainment by 230.2% during the 4th quarter. Senator Investment Group LP now owns 214,604 shares of the company's stock valued at $55,464,000 after acquiring an additional 149,604 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Flutter Entertainment in the 4th quarter valued at approximately $33,000. Finally, TD Waterhouse Canada Inc. bought a new position in shares of Flutter Entertainment in the 4th quarter valued at approximately $36,000.

Flutter Entertainment Price Performance

Shares of FLUT stock traded up $2.57 during trading hours on Friday, hitting $232.86. The company had a trading volume of 2,359,805 shares, compared to its average volume of 1,798,091. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $41.33 billion and a price-to-earnings ratio of 1,058.45. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The firm's fifty day moving average is $241.77 and its 200 day moving average is $252.65.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several analyst reports. Susquehanna lowered their price target on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, March 5th. Citizens Jmp lowered their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Truist Financial cut their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group raised their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Peel Hunt raised Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $306.67.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm'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 of the company's stock, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

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.