Senator Investment Group LP Buys 149,604 Shares of Flutter Entertainment plc (NYSE:FLUT)

Senator Investment Group LP grew its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 230.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,604 shares of the company's stock after buying an additional 149,604 shares during the quarter. Flutter Entertainment accounts for 1.6% of Senator Investment Group LP's portfolio, making the stock its 18th largest position. Senator Investment Group LP owned about 0.12% of Flutter Entertainment worth $55,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FLUT. Jennison Associates LLC bought a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $239,306,000. DJE Kapital AG bought a new stake in Flutter Entertainment in the 4th quarter worth approximately $442,000. Sanctuary Advisors LLC bought a new stake in Flutter Entertainment in the 3rd quarter worth approximately $802,000. Benson Investment Management Company Inc. purchased a new stake in Flutter Entertainment during the 4th quarter valued at $5,116,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Flutter Entertainment by 68.3% in the fourth quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock worth $51,642,000 after acquiring an additional 81,101 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLUT. Citizens Jmp lowered their target price on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Macquarie reiterated an "outperform" rating and issued a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. UBS Group increased their price target 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. Finally, Benchmark reissued a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a research report on Monday. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $306.67.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the 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. This trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded up $2.57 during midday trading on Friday, reaching $232.86. 2,359,799 shares of the company were exchanged, compared to its average volume of 1,791,655. The stock has a market cap of $41.33 billion and a PE ratio of 1,058.45. The business's fifty day moving average is $241.77 and its two-hundred day moving average is $252.65. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

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.