Flutter Entertainment plc (NYSE:FLUT) Stake Raised by TOMS Capital Investment Management LP

TOMS Capital Investment Management LP increased its position in Flutter Entertainment plc (NYSE:FLUT) by 2.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 378,200 shares of the company’s stock after purchasing an additional 7,931 shares during the period. Flutter Entertainment accounts for 3.6% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 7th largest holding. TOMS Capital Investment Management LP’s holdings in Flutter Entertainment were worth $97,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FLUT. Capital World Investors increased its stake in Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after acquiring an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. increased its stake in Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock worth $2,479,812,000 after acquiring an additional 299,300 shares during the last quarter. Parvus Asset Management Europe Ltd bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $2,146,227,000. Norges Bank bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $946,681,000. Finally, FMR LLC grew its stake in shares of Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company’s stock valued at $881,349,000 after buying an additional 25,422 shares during the last quarter.

Flutter Entertainment Trading Up 0.9 %

NYSE:FLUT opened at $235.27 on Tuesday. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The firm has a fifty day simple moving average of $239.41 and a 200-day simple moving average of $252.94. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $41.75 billion and a P/E ratio of 1,069.41.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FLUT shares. Truist Financial dropped their price objective on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Wells Fargo & Company lifted their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Macquarie reiterated an “outperform” rating and set a $340.00 target price on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $306.67.

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.