Norges Bank Invests $946.68 Million in Flutter Entertainment plc (NYSE:FLUT)

Norges Bank acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the fourth quarter, Holdings Channel reports. The firm acquired 3,651,051 shares of the company’s stock, valued at approximately $946,681,000.

Several other hedge funds also recently modified their holdings of FLUT. Jennison Associates LLC acquired a new position in shares of Flutter Entertainment in the 4th quarter worth $239,306,000. Vestcor Inc purchased a new stake in Flutter Entertainment during the third quarter valued at about $815,000. DJE Kapital AG acquired a new position in shares of Flutter Entertainment in the fourth quarter worth about $442,000. Sanctuary Advisors LLC acquired a new position in shares of Flutter Entertainment in the third quarter worth about $802,000. Finally, Benson Investment Management Company Inc. purchased a new position in Flutter Entertainment during the 4th quarter worth approximately $5,116,000.

Flutter Entertainment Stock Up 0.3 %

NYSE FLUT opened at $236.99 on Friday. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. 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 stock has a market cap of $42.06 billion and a PE ratio of 1,077.21. The firm has a 50-day simple moving average of $261.86 and a 200 day simple moving average of $253.61.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLUT. Truist Financial assumed coverage on Flutter Entertainment in a research note on Wednesday, February 26th. They set a “buy” rating and a $330.00 target price on the stock. UBS Group raised their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Barclays raised their target price on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Needham & Company LLC upped their price target on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Susquehanna reduced their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and an average target price of $311.41.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were 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 directly owns 21,148 shares in the company, 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.