Aviva PLC Boosts Stake in Flutter Entertainment plc (NYSE:FLUT)

Aviva PLC lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 67.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 214,595 shares of the company’s stock after purchasing an additional 86,801 shares during the quarter. Aviva PLC owned about 0.12% of Flutter Entertainment worth $55,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $239,306,000. Vestcor Inc acquired a new stake in Flutter Entertainment in the 3rd quarter valued at approximately $815,000. DJE Kapital AG purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $442,000. Sanctuary Advisors LLC acquired a new position in Flutter Entertainment during the third quarter worth $802,000. Finally, Benson Investment Management Company Inc. purchased a new position in shares of Flutter Entertainment during the fourth quarter worth $5,116,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Susquehanna cut their price objective on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. JMP Securities lifted their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Needham & Company LLC increased their target price on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, UBS Group boosted their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $311.41.

Flutter Entertainment Stock Down 5.4 %

FLUT 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 company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The company’s 50 day moving average is $256.42 and its two-hundred day moving average is $253.77.

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’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 transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

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.