Norges Bank Takes $946.68 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Norges Bank acquired a new position in Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 3,651,051 shares of the company’s stock, valued at approximately $946,681,000. Norges Bank owned approximately 2.06% of Flutter Entertainment as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership acquired a new stake in Flutter Entertainment during the 4th quarter valued at $98,785,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Flutter Entertainment by 8.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 127,301 shares of the company’s stock valued at $32,686,000 after acquiring an additional 10,232 shares in the last quarter. Korea Investment CORP boosted its stake in shares of Flutter Entertainment by 52.1% during the fourth quarter. Korea Investment CORP now owns 256,254 shares of the company’s stock valued at $66,229,000 after acquiring an additional 87,776 shares during the last quarter. Anthracite Investment Company Inc. increased its position in Flutter Entertainment by 58.3% during the 4th quarter. Anthracite Investment Company Inc. now owns 19,000 shares of the company’s stock worth $4,911,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in Flutter Entertainment in the 4th quarter valued at about $598,000.

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 transaction, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

FLUT has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. BTIG Research set a $323.00 price target on Flutter Entertainment in a report on Monday, February 3rd. Needham & Company LLC raised their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. JMP Securities lifted their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday, January 6th. Finally, Benchmark increased their target price on Flutter Entertainment from $275.00 to $300.00 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $311.41.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $236.99 on Friday. The company has a market capitalization of $42.06 billion and a price-to-earnings ratio of 1,077.21. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The business has a 50-day moving average of $261.86 and a 200-day moving average of $253.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

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.