Cannell & Spears LLC Buys Shares of 83,091 Flutter Entertainment plc (NYSE:FLUT)

Cannell & Spears LLC purchased a new position in Flutter Entertainment plc (NYSE:FLUT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 83,091 shares of the company’s stock, valued at approximately $21,475,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Flutter Entertainment during the fourth quarter worth $25,000. Farther Finance Advisors LLC grew 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 worth $25,000 after buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment during the 4th quarter worth $26,000. BOCHK Asset Management Ltd acquired a new position in Flutter Entertainment in the 4th quarter valued at about $26,000. Finally, IFP Advisors Inc raised its stake 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 last quarter.

Flutter Entertainment Stock Down 3.8 %

Flutter Entertainment stock opened at $228.35 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $40.53 billion and a PE ratio of 1,037.97. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The company has a 50 day moving average of $261.17 and a 200-day moving average of $254.15.

Analysts Set New Price Targets

A number of research firms recently weighed in on FLUT. Macquarie restated an “outperform” rating and issued a $340.00 price target on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Barclays raised their target price on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Needham & Company LLC raised their target price on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Susquehanna dropped their price target 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. Nineteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $311.41.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’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 sale, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This represents a 54.20 % 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.