Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes $8.36 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 32,342 shares of the company’s stock, valued at approximately $8,359,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FLUT. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment during the third quarter worth about $849,474,000. Bank of Montreal Can raised its holdings in Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after purchasing an additional 3,019,376 shares in the last quarter. Geode Capital Management LLC purchased a new position in Flutter Entertainment during the third quarter worth about $436,599,000. State Street Corp raised its holdings in Flutter Entertainment by 61,014.6% during the third quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after purchasing an additional 1,009,792 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Flutter Entertainment during the fourth quarter worth about $239,306,000.

Flutter Entertainment Stock Up 0.1 %

Shares of NYSE FLUT opened at $241.20 on Friday. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The firm’s 50 day moving average price is $263.22 and its 200 day moving average price is $252.85. The firm has a market cap of $42.81 billion and a P/E ratio of 1,096.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Analyst Ratings Changes

Several research firms recently issued reports on FLUT. Benchmark increased their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They set a “buy” rating and a $320.00 target price on the stock. 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 target price on the stock. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, JMP Securities upped their target price on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research report on Monday, January 6th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $311.41.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,941 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the 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 transaction, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their position. 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.