Canada Pension Plan Investment Board Decreases Stake in Flutter Entertainment plc (NYSE:FLUT)

Canada Pension Plan Investment Board lessened its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,289 shares of the company’s stock after selling 3,234 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Flutter Entertainment worth $58,743,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of Flutter Entertainment by 21.7% in the fourth quarter. NewEdge Advisors LLC now owns 1,358 shares of the company’s stock valued at $352,000 after purchasing an additional 242 shares during the last quarter. United Capital Financial Advisors LLC acquired a new position in shares of Flutter Entertainment during the 4th quarter valued at about $962,000. Gabelli Funds LLC purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $251,000. Dodge & Cox increased its position in Flutter Entertainment by 0.7% during the fourth quarter. Dodge & Cox now owns 628,878 shares of the company’s stock worth $162,534,000 after purchasing an additional 4,400 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in Flutter Entertainment by 13.2% during the fourth quarter. XTX Topco Ltd now owns 1,787 shares of the company’s stock worth $462,000 after purchasing an additional 209 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FLUT shares. JMP Securities cut their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a report on Monday, April 14th. Needham & Company LLC upped their price target on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Susquehanna lowered their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Truist Financial began coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective on the stock. Finally, BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a research note on Monday, February 3rd. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $312.06.

Flutter Entertainment Trading Up 0.1 %

Shares of NYSE:FLUT opened at $227.42 on Friday. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company’s 50 day moving average is $246.72 and its two-hundred day moving average is $252.86. The company has a market cap of $40.36 billion and a PE ratio of 1,033.70. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale 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 company’s stock in a transaction on Thursday, March 6th. The shares were 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 position. The disclosure for this sale can be found here.

Flutter Entertainment 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.