DnB Asset Management AS Acquires 2,586 Shares of Flutter Entertainment plc (NYSE:FLUT)

DnB Asset Management AS lifted its stake in Flutter Entertainment plc (NYSE:FLUT) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,421 shares of the company’s stock after purchasing an additional 2,586 shares during the quarter. DnB Asset Management AS’s holdings in Flutter Entertainment were worth $8,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after buying an additional 299,300 shares during the last quarter. Norges Bank bought a new position in shares of Flutter Entertainment during the fourth quarter valued at $946,681,000. Cantillon Capital Management LLC raised its position in shares of 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. Egerton Capital UK LLP boosted its stake in Flutter Entertainment by 3.4% in the 4th quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock worth $485,210,000 after purchasing an additional 61,833 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $436,599,000.

Flutter Entertainment Stock Performance

FLUT opened at $228.35 on Friday. The company’s 50 day moving average is $261.17 and its 200 day moving average is $253.91. 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 $40.53 billion and a price-to-earnings ratio of 1,037.97. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Macquarie reaffirmed an “outperform” rating and issued a $340.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Needham & Company LLC lifted their target price on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, JMP Securities upped their price target on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Nineteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $311.41.

Insiders Place Their Bets

In other Flutter Entertainment 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 value of $3,077,547.00. Following the completion of the sale, the chief executive officer now 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 through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares in the company, valued at approximately $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 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.