Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 22.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,047 shares of the company’s stock after selling 2,307 shares during the quarter. Cibc World Markets Corp’s holdings in Flutter Entertainment were worth $2,080,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $239,306,000. Vestcor Inc bought a new position in Flutter Entertainment in the 3rd quarter worth approximately $815,000. DJE Kapital AG bought a new position in Flutter Entertainment in the 4th quarter worth approximately $442,000. Sanctuary Advisors LLC bought a new position in Flutter Entertainment in the 3rd quarter worth approximately $802,000. Finally, Benson Investment Management Company Inc. bought a new position in Flutter Entertainment in the 4th quarter worth approximately $5,116,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial assumed coverage on Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective for the company. Stifel Nicolaus assumed coverage on Flutter Entertainment in a report on Friday, January 17th. They issued a “buy” rating and a $320.00 price objective for the company. Needham & Company LLC increased 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. Wells Fargo & Company increased their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Susquehanna decreased 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. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $311.41.

Insider Activity

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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 $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $241.20 on Friday. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The stock has a fifty day moving average of $263.22 and a 200-day moving average of $252.85. The company has a market capitalization of $42.81 billion and a PE ratio of 1,096.37. 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 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.