Flutter Entertainment plc (NYSE:FLUT) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,652,843 shares of the company’s stock after purchasing an additional 333,294 shares during the period. Wellington Management Group LLP owned approximately 1.49% of Flutter Entertainment worth $688,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Flutter Entertainment by 3.2% in 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 period. Norges Bank purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $946,681,000. Cantillon Capital Management LLC raised its holdings in Flutter Entertainment by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company’s stock worth $622,911,000 after purchasing an additional 12,794 shares during the period. Egerton Capital UK LLP boosted its position in Flutter Entertainment by 3.4% during the fourth quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock worth $485,210,000 after purchasing an additional 61,833 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Flutter Entertainment in the third quarter valued at approximately $436,599,000.

Wall Street Analyst Weigh In

FLUT has been the subject of several research analyst reports. Truist Financial started coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price target for the company. Needham & Company LLC raised their target price on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Benchmark lifted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company increased their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Barclays lifted their target price on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $311.41.

Flutter Entertainment Trading Down 3.2 %

Shares of FLUT stock opened at $221.57 on Tuesday. The company has a market capitalization of $39.32 billion and a P/E ratio of 1,007.14. 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 business’s 50 day moving average is $260.34 and its two-hundred day moving average is $254.16. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the 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 completion of the transaction, the director now directly owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 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.