Capital International Investors Trims Holdings in Flutter Entertainment plc (NYSE:FLUT)

Capital International Investors lowered its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,751,429 shares of the company’s stock after selling 175,352 shares during the quarter. Capital International Investors owned 1.55% of Flutter Entertainment worth $711,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in Flutter Entertainment during the fourth quarter valued at about $25,000. Farther Finance Advisors LLC lifted its holdings in Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in Flutter Entertainment in the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd purchased a new stake in Flutter Entertainment during the 4th quarter valued at approximately $26,000. Finally, IFP Advisors Inc raised its position in shares of 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 buying an additional 83 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FLUT shares. Wells Fargo & Company lifted their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. UBS Group lifted their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a “buy” rating and a $320.00 target price for the company. Finally, 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. Twenty equities research analysts have rated the stock with a buy rating and one has issued 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 $312.06.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $227.42 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $40.36 billion and a PE ratio of 1,033.70. The firm’s 50 day simple moving average is $246.72 and its 200-day simple moving average is $252.86. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment 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 owns 62,941 shares in the company, 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 the SEC website. 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 $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 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.