Cannell & Spears LLC Invests $21.48 Million in Flutter Entertainment plc (NYSE:FLUT)

Cannell & Spears LLC bought a new stake in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 83,091 shares of the company’s stock, valued at approximately $21,475,000.

Several other large investors also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Flutter Entertainment during the 4th quarter valued at approximately $946,681,000. Geode Capital Management LLC bought a new position in Flutter Entertainment during the 3rd quarter valued at about $436,599,000. State Street Corp raised its position in Flutter Entertainment by 61,014.6% in the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after purchasing an additional 1,009,792 shares during the period. Jennison Associates LLC bought a new stake in Flutter Entertainment in the fourth quarter worth about $239,306,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $137,958,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FLUT. Truist Financial began coverage on Flutter Entertainment in a research note on Wednesday, February 26th. They set a “buy” rating and a $330.00 price target for the company. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. JMP Securities boosted their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday, January 6th. Finally, Barclays raised their target price on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $311.41.

Insider Activity at Flutter Entertainment

In related news, 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 directly owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Stock Down 3.8 %

NYSE:FLUT opened at $228.35 on Monday. The company’s 50-day simple moving average is $261.17 and its 200-day simple moving average is $254.15. 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 fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock has a market capitalization of $40.53 billion and a P/E ratio of 1,037.97.

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.