Ilmarinen Mutual Pension Insurance Co Invests $11.63 Million in Flutter Entertainment plc (NYSE:FLUT)

Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 45,000 shares of the company’s stock, valued at approximately $11,630,000.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLUT. Needham & Company LLC increased their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. UBS Group raised their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. BTIG Research set a $323.00 price objective on Flutter Entertainment in a research report on Monday, February 3rd. Susquehanna dropped their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Finally, Benchmark boosted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and a consensus price target of $311.41.

Insider Buying and Selling at Flutter Entertainment

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 owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 completion of the transaction, 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 position. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 5.4 %

Flutter Entertainment stock opened at $205.81 on Friday. The stock has a market cap of $36.53 billion and a P/E ratio of 935.50. The firm’s 50 day moving average price is $256.42 and its 200-day moving average price is $253.77. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick 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.