Capital Research Global Investors Sells 1,711,140 Shares of Flutter Entertainment plc (NYSE:FLUT)

Capital Research Global Investors cut its holdings in Flutter Entertainment plc (NYSE:FLUT) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,258,054 shares of the company’s stock after selling 1,711,140 shares during the quarter. Capital Research Global Investors owned 6.34% of Flutter Entertainment worth $2,909,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment during the fourth quarter valued at $25,000. Farther Finance Advisors LLC lifted its stake in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares during the period. Raleigh Capital Management Inc. bought a new position in Flutter Entertainment during the 4th quarter valued at about $26,000. BOCHK Asset Management Ltd purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $26,000. Finally, IFP Advisors Inc grew its stake in shares of Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after acquiring an additional 83 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FLUT shares. UBS Group raised their target price 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. Citizens Jmp dropped their price target on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. BTIG Research set a $323.00 price objective on Flutter Entertainment in a report on Monday, February 3rd. Barclays increased their target price on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC boosted their price target on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $312.06.

Flutter Entertainment Stock Up 0.1 %

Shares of FLUT stock opened at $227.42 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company’s fifty day moving average price is $246.72 and its 200-day moving average price is $252.86. The company has a market capitalization of $40.36 billion and a price-to-earnings ratio of 1,033.70.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. 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.