Egerton Capital UK LLP Has $485.21 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Egerton Capital UK LLP lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,877,383 shares of the company’s stock after acquiring an additional 61,833 shares during the quarter. Flutter Entertainment makes up 5.6% of Egerton Capital UK LLP’s portfolio, making the stock its 5th biggest position. Egerton Capital UK LLP’s holdings in Flutter Entertainment were worth $485,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA purchased a new stake in Flutter Entertainment in the third quarter worth $849,474,000. Bank of Montreal Can increased its holdings in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after buying an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC increased its holdings in Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Geode Capital Management LLC bought a new stake in Flutter Entertainment in the 3rd quarter worth about $436,599,000. Finally, State Street Corp increased its holdings in Flutter Entertainment by 61,014.6% in the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after buying an additional 1,009,792 shares in the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $231.63 on Wednesday. The business has a fifty day moving average of $266.07 and a 200 day moving average of $251.91. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. 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 stock has a market cap of $41.11 billion and a P/E ratio of 1,052.85.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLUT. Macquarie reiterated an “outperform” rating and issued a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. UBS Group lifted their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Susquehanna lowered their price objective 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. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus began coverage on Flutter Entertainment in a research note on Friday, January 17th. They set a “buy” rating and a $320.00 target price on the stock. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $311.41.

Insider Activity at Flutter Entertainment

In related news, 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 transaction 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. This represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $3,077,547.00. Following the sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.