Trexquant Investment LP Acquires 4,903 Shares of Flutter Entertainment plc (NYSE:FLUT)

Trexquant Investment LP raised its holdings in Flutter Entertainment plc (NYSE:FLUT) by 39.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,320 shares of the company’s stock after buying an additional 4,903 shares during the quarter. Trexquant Investment LP’s holdings in Flutter Entertainment were worth $4,476,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% in 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 in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $26,000. BOCHK Asset Management Ltd purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc grew its holdings in 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 buying an additional 83 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FLUT shares. UBS Group raised their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price target on the stock. Barclays upped their price objective 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. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Finally, Needham & Company LLC upped their target price on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $311.41.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the business’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 sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated 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 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 Price Performance

Shares of NYSE:FLUT opened at $205.81 on Friday. The firm has a market capitalization of $36.53 billion and a PE ratio of 935.50. 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 company has a 50-day moving average price of $256.42 and a two-hundred day moving average price of $253.77. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

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.