Massachusetts Financial Services Co. MA Reduces Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Massachusetts Financial Services Co. MA trimmed its holdings in Flutter Entertainment plc (NYSE:FLUT) by 14.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,062,966 shares of the company’s stock after selling 517,081 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Flutter Entertainment were worth $791,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLUT. Norges Bank bought a new position in shares of Flutter Entertainment in the fourth quarter worth $946,681,000. Geode Capital Management LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $436,599,000. State Street Corp lifted its holdings in Flutter Entertainment by 61,014.6% during the 3rd 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. Jennison Associates LLC bought a new position in Flutter Entertainment in the 4th quarter worth about $239,306,000. Finally, William Blair Investment Management LLC purchased a new position in Flutter Entertainment during the 4th quarter valued at about $137,958,000.

Flutter Entertainment Trading Up 3.0 %

NYSE FLUT opened at $229.53 on Thursday. 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 plc has a 1-year low of $174.03 and a 1-year high of $299.73. The stock has a 50-day moving average of $258.66 and a 200-day moving average of $254.00. The firm has a market cap of $40.73 billion and a PE ratio of 1,043.32.

Insiders Place Their Bets

In other news, CEO Amy Howe sold 11,814 shares of the 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 sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This 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 business’s 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 approximately $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial started coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price target on the stock. Susquehanna lowered their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. Stifel Nicolaus began coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price target for the company. JMP Securities increased their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research report on Monday, January 6th. Finally, UBS Group lifted their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $311.41.

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.