Flutter Entertainment plc (NYSE:FLUT) is Diametric Capital LP’s Largest Position

Diametric Capital LP lessened its stake in Flutter Entertainment plc (NYSE:FLUT) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,967 shares of the company’s stock after selling 1,839 shares during the quarter. Flutter Entertainment comprises about 2.6% of Diametric Capital LP’s holdings, making the stock its largest holding. Diametric Capital LP’s holdings in Flutter Entertainment were worth $3,869,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

FLUT has been the topic of several research analyst reports. Truist Financial assumed coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 price target on the stock. Benchmark upped their price objective on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Susquehanna dropped their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Finally, Needham & Company LLC upped their price target on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Nineteen equities 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, the stock has a consensus rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Price Performance

FLUT stock opened at $221.57 on Tuesday. The business has a 50 day moving average price of $260.34 and a 200 day moving average price of $254.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a market cap of $39.32 billion and a price-to-earnings ratio of 1,007.14. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73.

Insiders Place Their Bets

In related news, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred 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 transaction, the director now directly owns 21,148 shares in the company, valued at approximately $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.