Capital Group Investment Management PTE. LTD. Increases Stake in Flutter Entertainment plc (NYSE:FLUT)

Capital Group Investment Management PTE. LTD. lifted its stake in Flutter Entertainment plc (NYSE:FLUT) by 32.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,475 shares of the company’s stock after buying an additional 3,805 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Flutter Entertainment were worth $4,000,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Flutter Entertainment in the 4th quarter worth approximately $946,681,000. Invesco Ltd. bought a new stake in Flutter Entertainment in the fourth quarter worth $621,680,000. Jennison Associates LLC purchased a new stake in Flutter Entertainment during the fourth quarter valued at $239,306,000. William Blair Investment Management LLC purchased a new stake in Flutter Entertainment during the fourth quarter valued at $137,958,000. Finally, Artisan Partners Limited Partnership purchased a new position in shares of Flutter Entertainment in the 4th quarter worth $98,785,000.

Flutter Entertainment Price Performance

Shares of 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 company has a 50 day moving average price of $247.55 and a 200-day moving average price of $252.92. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock has a market capitalization of $40.36 billion and a PE ratio of 1,033.70.

Insider Buying and Selling

In other Flutter Entertainment 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 transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FLUT. Benchmark increased their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Truist Financial initiated coverage on Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 target price for the company. BTIG Research set a $323.00 price target on Flutter Entertainment in a research report on Monday, February 3rd. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Finally, UBS Group raised their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $312.06.

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.