Mitsubishi UFJ Trust & Banking Corp Buys 2,784 Shares of Flutter Entertainment plc (NYSE:FLUT)

Mitsubishi UFJ Trust & Banking Corp grew its position in Flutter Entertainment plc (NYSE:FLUT) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,949 shares of the company’s stock after purchasing an additional 2,784 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Flutter Entertainment were worth $22,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FLUT. Vanguard Group Inc. grew its stake in Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after buying an additional 299,300 shares during the last quarter. FMR LLC grew its position in shares of Flutter Entertainment by 13.2% in the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after purchasing an additional 393,122 shares during the last quarter. Cantillon Capital Management LLC increased its stake in shares of Flutter Entertainment by 0.5% in the fourth 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 lifted its position in shares of Flutter Entertainment by 3.4% during the 4th 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 during the last quarter. Finally, Geode Capital Management LLC bought a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $436,599,000.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $236.99 on Friday. The stock has a market capitalization of $42.06 billion and a P/E ratio of 1,077.21. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The firm has a 50 day moving average of $261.86 and a 200-day moving average of $253.61.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Needham & Company LLC upped their target price on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. JMP Securities raised their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research report on Monday, January 6th. Finally, Stifel Nicolaus assumed coverage on Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price objective on the stock. Nineteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and an average price target of $311.41.

Insider Activity at Flutter Entertainment

In other news, 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 value of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

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.