Banco BTG Pactual S.A. Invests $598,000 in Flutter Entertainment plc (NYSE:FLUT)

Banco BTG Pactual S.A. purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,349 shares of the company’s stock, valued at approximately $598,000.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Flutter Entertainment by 3.2% during the fourth 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 in the last quarter. FMR LLC grew its holdings in Flutter Entertainment by 13.2% during the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company’s stock worth $794,362,000 after acquiring an additional 393,122 shares in the last quarter. Cantillon Capital Management LLC increased 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 raised its stake in shares of Flutter Entertainment by 3.4% in the 4th quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock valued at $485,210,000 after purchasing an additional 61,833 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new position in Flutter Entertainment in the third quarter worth about $436,599,000.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

FLUT has been the topic of several research reports. Stifel Nicolaus assumed coverage on Flutter Entertainment in a research note on Friday, January 17th. They set a “buy” rating and a $320.00 price objective on the stock. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Benchmark increased their target price 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. JMP Securities lifted their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Finally, UBS Group increased their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Trading Down 2.2 %

Flutter Entertainment stock opened at $241.10 on Wednesday. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $42.79 billion and a PE ratio of 1,095.91. The firm has a 50 day simple moving average of $262.66 and a 200-day simple moving average of $253.85.

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.