Trexquant Investment LP Acquires 4,903 Shares of Flutter Entertainment plc (NYSE:FLUT)

Trexquant Investment LP boosted its holdings in Flutter Entertainment plc (NYSE:FLUT) by 39.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,320 shares of the company’s stock after acquiring an additional 4,903 shares during the period. Trexquant Investment LP’s holdings in Flutter Entertainment were worth $4,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased 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 worth $25,000 after purchasing an additional 82 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Flutter Entertainment during the fourth quarter worth about $25,000. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment in the 4th quarter worth about $26,000. BOCHK Asset Management Ltd acquired a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $26,000. Finally, IFP Advisors Inc raised its position in shares of Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after buying an additional 83 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group increased their target price on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays lifted their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial initiated coverage on Flutter Entertainment in a research note on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective on the stock. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Susquehanna reduced their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $205.81 on Friday. The business has a 50-day moving average price of $256.42 and a two-hundred day moving average price of $253.77. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market cap of $36.53 billion and a P/E ratio of 935.50.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value 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 approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.