Quantbot Technologies LP Invests $4.05 Million in Flutter Entertainment plc (NYSE:FLUT)

Quantbot Technologies LP bought a new position in Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,684 shares of the company’s stock, valued at approximately $4,054,000.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Flutter Entertainment during the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $26,000. BOCHK Asset Management Ltd acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. Finally, IFP Advisors Inc lifted its position in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after buying an additional 83 shares during the period.

Insider Activity

In other news, CEO Amy Howe sold 11,814 shares of the 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 sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

FLUT has been the topic of a number of analyst reports. Truist Financial initiated coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price target on the stock. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. JMP Securities upped their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday, January 6th. Finally, Benchmark lifted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $241.20 on Friday. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The stock’s fifty day simple moving average is $263.22 and its 200 day simple moving average is $252.85. The company has a market capitalization of $42.81 billion and a PE ratio of 1,096.37. 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 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.