Yost Capital Management LP Reduces Stake in Flutter Entertainment plc (NYSE:FLUT)

Yost Capital Management LP decreased its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,850 shares of the company's stock after selling 13,500 shares during the quarter. Flutter Entertainment makes up approximately 11.2% of Yost Capital Management LP's portfolio, making the stock its 4th largest position. Yost Capital Management LP's holdings in Flutter Entertainment were worth $10,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FLUT. Farther Finance Advisors LLC increased 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 buying an additional 82 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd bought a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. Finally, IFP Advisors Inc lifted its stake in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on FLUT shares. Benchmark boosted their target price on Flutter Entertainment from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Truist Financial started coverage on Flutter Entertainment in a research note on Wednesday, February 26th. They issued a "buy" rating and a $330.00 price objective on the stock. Susquehanna cut their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Macquarie reissued an "outperform" rating and issued a $340.00 price target on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Finally, 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 report on Thursday, March 6th. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of "Buy" and a consensus price target of $312.06.

Flutter Entertainment Stock Down 1.2 %

FLUT stock opened at $227.08 on Thursday. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The stock has a market cap of $40.30 billion and a price-to-earnings ratio of 1,032.18. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $248.38 and its 200 day moving average is $252.98.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now owns 62,941 shares of the company's stock, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated 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 owns 21,148 shares in the company, valued at $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 Company 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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