Vanguard Group Inc. Grows Position in Flutter Entertainment plc (NYSE:FLUT)

Vanguard Group Inc. grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,591,786 shares of the company’s stock after purchasing an additional 299,300 shares during the quarter. Vanguard Group Inc. owned about 5.40% of Flutter Entertainment worth $2,479,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC bought a new stake in Flutter Entertainment during the 3rd quarter valued at $436,599,000. State Street Corp raised its stake in shares of Flutter Entertainment by 61,014.6% during the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company’s stock valued at $239,996,000 after purchasing an additional 1,009,792 shares during the period. Jennison Associates LLC purchased a new stake in Flutter Entertainment during the 4th quarter worth about $239,306,000. William Blair Investment Management LLC bought a new position in Flutter Entertainment in the 4th quarter worth about $137,958,000. Finally, FMR LLC grew its holdings in Flutter Entertainment by 13.2% during the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after buying an additional 393,122 shares in the last quarter.

Flutter Entertainment Stock Down 2.2 %

Shares of Flutter Entertainment stock opened at $241.10 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The company’s 50 day moving average price is $262.66 and its 200-day moving average price is $253.85. The stock has a market capitalization of $42.79 billion and a price-to-earnings ratio of 1,095.91.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value 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 disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Macquarie restated an “outperform” rating and set a $340.00 price target on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Truist Financial started coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective on the stock. Needham & Company LLC boosted their target price on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Benchmark raised their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $311.41.

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.