Canada Pension Plan Investment Board Lowers Stake in Flutter Entertainment plc (NYSE:FLUT)

Canada Pension Plan Investment Board trimmed its holdings in Flutter Entertainment plc (NYSE:FLUT) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 227,289 shares of the company’s stock after selling 3,234 shares during the period. Canada Pension Plan Investment Board’s holdings in Flutter Entertainment were worth $58,743,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Stifel Nicolaus assumed coverage on Flutter Entertainment in a research report on Friday, January 17th. They issued a “buy” rating and a $320.00 price objective for the company. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Macquarie reaffirmed an “outperform” rating and set a $340.00 price target on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Needham & Company LLC boosted their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Twenty 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 data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $312.06.

Flutter Entertainment Stock Up 0.1 %

Shares of NYSE FLUT opened at $227.42 on Friday. The firm’s 50 day moving average price is $246.72 and its 200 day moving average price is $252.86. 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 cap of $40.36 billion and a P/E ratio of 1,033.70. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73.

Insider Activity

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $5,539,930.08. The trade was 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 stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.