Capital Group Investment Management PTE. LTD. Grows Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Capital Group Investment Management PTE. LTD. lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 32.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 15,475 shares of the company’s stock after acquiring an additional 3,805 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Flutter Entertainment were worth $4,000,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FLUT. Capital International Sarl grew its position in Flutter Entertainment by 39.1% during the 4th quarter. Capital International Sarl now owns 107,145 shares of the company’s stock worth $27,688,000 after purchasing an additional 30,092 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Flutter Entertainment by 21.7% during the fourth quarter. NewEdge Advisors LLC now owns 1,358 shares of the company’s stock worth $352,000 after buying an additional 242 shares during the period. United Capital Financial Advisors LLC purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $962,000. Gabelli Funds LLC purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $251,000. Finally, Dodge & Cox increased its position in shares of Flutter Entertainment by 0.7% in the 4th quarter. Dodge & Cox now owns 628,878 shares of the company’s stock valued at $162,534,000 after acquiring an additional 4,400 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Benchmark lifted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. JMP Securities dropped their target price on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a research report on Monday. UBS Group increased their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Finally, Susquehanna cut their price objective 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. Twenty equities research 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $312.06.

Insider Activity

In other news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the company’s 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $227.42 on Friday. The stock has a market capitalization of $40.36 billion and a price-to-earnings ratio of 1,033.70. The stock has a 50-day moving average of $247.55 and a 200 day moving average of $252.92. 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 twelve month low of $174.03 and a twelve month high of $299.73.

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.