DnB Asset Management AS Grows Position in Flutter Entertainment plc (NYSE:FLUT)

DnB Asset Management AS lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,421 shares of the company’s stock after purchasing an additional 2,586 shares during the quarter. DnB Asset Management AS’s holdings in Flutter Entertainment were worth $8,121,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

FLUT has been the topic of several recent research reports. Benchmark increased their price objective on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. JMP Securities increased their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. UBS Group increased their target price 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. Finally, Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They issued a “buy” rating and a $320.00 target price on the stock. Nineteen 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, the stock currently has a consensus rating of “Buy” and a consensus price target of $311.41.

Insider Buying and Selling

In related news, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 3.8 %

NYSE FLUT opened at $228.35 on Friday. The stock has a market cap of $40.53 billion and a P/E ratio of 1,037.97. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock has a 50 day simple moving average of $261.17 and a two-hundred day simple moving average of $253.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

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.