Diametric Capital LP Has $3.87 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Diametric Capital LP decreased its position in Flutter Entertainment plc (NYSE:FLUT) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,967 shares of the company’s stock after selling 1,839 shares during the period. Flutter Entertainment accounts for about 2.6% of Diametric Capital LP’s investment portfolio, making the stock its biggest position. Diametric Capital LP’s holdings in Flutter Entertainment were worth $3,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Flutter Entertainment by 4.9% in the fourth quarter. Franklin Resources Inc. now owns 49,316 shares of the company’s stock worth $12,786,000 after acquiring an additional 2,304 shares during the period. Cannell & Spears LLC purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $21,475,000. Wellington Management Group LLP lifted its position in shares of Flutter Entertainment by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company’s stock worth $688,081,000 after purchasing an additional 333,294 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Flutter Entertainment by 22.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,999 shares of the company’s stock valued at $1,292,000 after purchasing an additional 932 shares in the last quarter. Finally, Pertento Partners LLP increased its holdings in Flutter Entertainment by 64.3% during the fourth quarter. Pertento Partners LLP now owns 217,771 shares of the company’s stock valued at $56,283,000 after buying an additional 85,207 shares during the period.

Analyst Ratings Changes

FLUT has been the topic of several recent research reports. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Barclays raised their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Susquehanna reduced their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Stifel Nicolaus initiated 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 for the company. Finally, Needham & Company LLC lifted their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Buy” and an average target price of $311.41.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 3.2 %

Flutter Entertainment stock opened at $221.57 on Tuesday. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The stock has a 50-day moving average price of $260.34 and a 200 day moving average price of $254.16. 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 market capitalization of $39.32 billion and a price-to-earnings ratio of 1,007.14.

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.