Massachusetts Financial Services Co. MA Sells 517,081 Shares of Flutter Entertainment plc (NYSE:FLUT)

Massachusetts Financial Services Co. MA cut its holdings in Flutter Entertainment plc (NYSE:FLUT) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,062,966 shares of the company’s stock after selling 517,081 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.72% of Flutter Entertainment worth $791,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Flutter Entertainment during the fourth quarter worth $946,681,000. Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $436,599,000. State Street Corp boosted its position in shares of Flutter Entertainment by 61,014.6% during the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after purchasing an additional 1,009,792 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at about $239,306,000. Finally, William Blair Investment Management LLC bought a new stake in Flutter Entertainment in the 4th quarter valued at about $137,958,000.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the business’s 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 transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FLUT. Needham & Company LLC increased their price target on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Truist Financial started coverage on Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 target price on the stock. Benchmark boosted their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Susquehanna dropped their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. Finally, BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a research report on Monday, February 3rd. Nineteen investment 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, the company presently has a consensus rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $229.53 on Thursday. The stock has a 50 day moving average of $258.66 and a 200 day moving average of $254.00. The company has a market capitalization of $40.73 billion and a price-to-earnings ratio of 1,043.32. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. 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 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.