Insider Selling: Flutter Entertainment plc (NYSE:FLUT) CEO Sells 11,814 Shares of Stock

Flutter Entertainment plc (NYSE:FLUT) CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Flutter Entertainment Stock Performance

FLUT traded down $21.05 during trading on Monday, reaching $227.21. 6,211,866 shares of the company’s stock were exchanged, compared to its average volume of 1,691,475. The company’s fifty day simple moving average is $267.23 and its 200-day simple moving average is $251.64. The stock has a market capitalization of $40.32 billion and a P/E ratio of 1,032.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently bought and sold shares of FLUT. Capital World Investors increased its stake in Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after buying an additional 1,635,241 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Flutter Entertainment by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock worth $2,479,812,000 after buying an additional 299,300 shares during the last quarter. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment in the fourth quarter valued at $2,146,227,000. Norges Bank purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $946,681,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $849,474,000.

Analyst Ratings Changes

A number of research firms recently weighed in on FLUT. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday. Truist Financial started coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price objective on the stock. UBS Group increased their target price on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Macquarie restated an “outperform” rating and set a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus started coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a “buy” rating and a $320.00 target price for the company. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Company 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.