Capital World Investors Acquires 1,635,241 Shares of Flutter Entertainment plc (NYSE:FLUT)

Capital World Investors grew its holdings in Flutter Entertainment plc (NYSE:FLUT) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,426,515 shares of the company’s stock after purchasing an additional 1,635,241 shares during the quarter. Capital World Investors owned about 8.69% of Flutter Entertainment worth $3,986,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $25,000. Farther Finance Advisors LLC increased its holdings in shares of Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment in the 4th quarter worth $26,000. BOCHK Asset Management Ltd acquired a new stake in Flutter Entertainment in the 4th quarter valued at $26,000. Finally, IFP Advisors Inc raised its holdings in Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after buying an additional 83 shares during the last quarter.

Insider Buying and Selling

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The stock was 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 of the company’s stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Stock Up 0.1 %

FLUT stock opened at $227.42 on Friday. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The firm has a market capitalization of $40.36 billion and a PE ratio of 1,033.70. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $246.72 and a two-hundred day simple moving average of $252.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FLUT shares. Susquehanna reduced their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Wells Fargo & Company raised their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Stifel Nicolaus started coverage on Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 target price on the stock. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Finally, Needham & Company LLC lifted their price objective 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. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $312.06.

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.