Westpac Banking Corp Makes New $296,000 Investment in Flutter Entertainment plc (NYSE:FLUT)

Westpac Banking Corp purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,144 shares of the company’s stock, valued at approximately $296,000.

A number of other institutional investors also recently modified their holdings of FLUT. Farther Finance Advisors LLC lifted its holdings in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth about $26,000. BOCHK Asset Management Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc grew its stake in 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 acquiring an additional 83 shares in the last quarter.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. 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 in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Stock Down 5.4 %

Shares of NYSE:FLUT opened at $205.81 on Friday. The stock has a market capitalization of $36.53 billion and a P/E ratio of 935.50. The stock’s 50-day moving average price is $256.42 and its 200-day moving average price is $253.61. 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 12-month low of $174.03 and a 12-month high of $299.73.

Analyst Upgrades and Downgrades

FLUT has been the topic of several recent analyst reports. Stifel Nicolaus assumed coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 target price on the stock. Macquarie reissued an “outperform” rating and set a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Barclays raised their price target on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC boosted their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and an average target price of $311.41.

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.