Commonwealth Equity Services LLC Purchases 473 Shares of Flutter Entertainment plc (NYSE:FLUT)

Commonwealth Equity Services LLC boosted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 36.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776 shares of the company’s stock after acquiring an additional 473 shares during the period. Commonwealth Equity Services LLC’s holdings in Flutter Entertainment were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FLUT. Geode Capital Management LLC bought a new position in shares of Flutter Entertainment during the third quarter valued at approximately $436,599,000. State Street Corp lifted its holdings in Flutter Entertainment by 61,014.6% during the third quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after buying an additional 1,009,792 shares during the period. Jennison Associates LLC bought a new stake in Flutter Entertainment during the 4th quarter valued at $239,306,000. National Pension Service purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at $56,213,000. Finally, Peregrine Capital Management LLC bought a new position in shares of Flutter Entertainment in the 4th quarter worth $32,330,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLUT. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. UBS Group raised their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, March 6th. 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 research note on Wednesday, March 5th. Truist Financial started coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They issued a “buy” rating and a $330.00 target price for the company. Finally, 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 research report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $311.41.

Insider Activity

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’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 sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 62,941 shares of the company’s stock, 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.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $205.81 on Friday. The firm’s fifty day moving average is $256.42 and its two-hundred day moving average is $253.77. The firm has a market cap of $36.53 billion and a price-to-earnings ratio of 935.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73.

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.