Bank of Montreal Can Decreases Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Bank of Montreal Can reduced its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 94.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,010 shares of the company’s stock after selling 3,165,012 shares during the quarter. Bank of Montreal Can’s holdings in Flutter Entertainment were worth $52,209,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in Flutter Entertainment during the fourth quarter worth approximately $239,306,000. Vestcor Inc purchased a new stake in Flutter Entertainment during the third quarter worth approximately $815,000. DJE Kapital AG purchased a new stake in Flutter Entertainment during the fourth quarter worth approximately $442,000. Sanctuary Advisors LLC purchased a new position in shares of Flutter Entertainment in the third quarter valued at $802,000. Finally, Benson Investment Management Company Inc. purchased a new position in shares of Flutter Entertainment in the fourth quarter valued at $5,116,000.

Flutter Entertainment Stock Up 11.6 %

Shares of NYSE:FLUT opened at $237.06 on Thursday. The stock has a market capitalization of $42.07 billion and a price-to-earnings ratio of 1,077.52. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company’s fifty day moving average is $251.95 and its two-hundred day moving average is $253.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Insiders Place Their Bets

In related news, 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 sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % 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, CEO Amy Howe sold 11,814 shares of the 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 directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FLUT shares. Truist Financial started coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They issued a “buy” rating and a $330.00 target price for the company. Benchmark upped their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Susquehanna decreased 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 note on Wednesday, March 5th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Macquarie restated an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $311.41.

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.