Capital World Investors Boosts Holdings in Flutter Entertainment plc (NYSE:FLUT)

Capital World Investors increased its holdings in Flutter Entertainment plc (NYSE:FLUT) by 11.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,426,515 shares of the company’s stock after acquiring an additional 1,635,241 shares during the period. Capital World Investors owned approximately 0.09% of Flutter Entertainment worth $3,986,968,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on FLUT shares. Stifel Nicolaus assumed coverage on Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price target for the company. JMP Securities dropped their price target on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. UBS Group lifted their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $312.06.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $227.42 on Friday. 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 company has a market capitalization of $40.36 billion and a price-to-earnings ratio of 1,033.70. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company’s 50-day moving average is $246.72 and its 200 day moving average is $252.86.

Insider Activity

In other news, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated 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 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 legal filing with the SEC, which is available through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred 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 transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

About Flutter Entertainment

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.