Alliancebernstein L.P. Cuts Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Alliancebernstein L.P. cut its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 48.1% in the 4th quarter, HoldingsChannel reports. The firm owned 35,017 shares of the company’s stock after selling 32,434 shares during the quarter. Alliancebernstein L.P.’s holdings in Flutter Entertainment were worth $9,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FLUT. Farther Finance Advisors LLC grew its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Flutter Entertainment in the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment during the 4th quarter valued at approximately $26,000. BOCHK Asset Management Ltd purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $26,000. Finally, IFP Advisors Inc raised its holdings in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after purchasing an additional 83 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction on 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 of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now 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.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $229.56 on Friday. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The stock has a fifty day moving average of $251.27 and a 200 day moving average of $253.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $40.74 billion and a price-to-earnings ratio of 1,043.43.

Wall Street Analysts Forecast Growth

FLUT has been the subject of several research reports. BTIG Research set a $323.00 price objective on Flutter Entertainment in a report on Monday, February 3rd. Susquehanna cut their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC lifted their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. JMP Securities upped their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment has an average rating of “Buy” and an average target price 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.