Invesco Ltd. Purchases New Position in Flutter Entertainment plc (NYSE:FLUT)

Invesco Ltd. acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,405,415 shares of the company’s stock, valued at approximately $621,680,000. Invesco Ltd. owned about 1.35% of Flutter Entertainment at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after acquiring an additional 299,300 shares in the last quarter. Norges Bank bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $946,681,000. FMR LLC increased its holdings in shares of Flutter Entertainment by 0.8% in the fourth quarter. FMR LLC now owns 3,401,092 shares of the company’s stock valued at $881,349,000 after purchasing an additional 25,422 shares in the last quarter. Wellington Management Group LLP raised its position in Flutter Entertainment by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company’s stock worth $688,081,000 after purchasing an additional 333,294 shares during the last quarter. Finally, Cantillon Capital Management LLC raised its position in Flutter Entertainment by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company’s stock worth $622,911,000 after purchasing an additional 12,794 shares during the last quarter.

Flutter Entertainment Trading Up 3.4 %

NYSE:FLUT opened at $213.31 on Tuesday. The firm has a market cap of $37.86 billion and a price-to-earnings ratio of 969.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50-day moving average price of $255.44 and a two-hundred day moving average price of $253.83. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. JMP Securities lifted their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research report on Monday, January 6th. Susquehanna dropped their price objective on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Wells Fargo & Company raised their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They set a “buy” rating and a $320.00 price target for the company. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $311.41.

Insider Buying and Selling 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 stock was 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 in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 position. The disclosure for this sale can be found here.

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.