DCF Advisers LLC Reduces Holdings in Flutter Entertainment plc (NYSE:FLUT)

DCF Advisers LLC reduced its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,500 shares of the company’s stock after selling 1,000 shares during the quarter. DCF Advisers LLC’s holdings in Flutter Entertainment were worth $388,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $25,000. Farther Finance Advisors LLC boosted its stake 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 purchasing an additional 82 shares during the period. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $26,000. BOCHK Asset Management Ltd purchased a new stake in shares of Flutter Entertainment during the fourth quarter valued at $26,000. Finally, IFP Advisors Inc boosted its stake in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after purchasing an additional 83 shares during the period.

Insider Activity

In other news, CEO Amy Howe sold 11,814 shares of the business’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 sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’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 directly owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

Shares of FLUT opened at $240.70 on Friday. The firm has a market capitalization of $42.72 billion and a PE ratio of 1,094.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company’s fifty day moving average price is $263.47 and its 200-day moving average price is $252.65.

Analysts Set New Price Targets

Several research analysts have issued reports on FLUT shares. Macquarie reiterated an “outperform” rating and set a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a research note on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective for the company. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Truist Financial initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 price objective for the company. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and a consensus target price of $311.41.

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.