Legal & General Group Plc Trims Stake in Flutter Entertainment plc (NYSE:FLUT)

Legal & General Group Plc lessened its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 736,609 shares of the company’s stock after selling 99,686 shares during the quarter. Legal & General Group Plc owned approximately 0.41% of Flutter Entertainment worth $190,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Invesco Ltd. acquired a new stake in shares of Flutter Entertainment in the 4th quarter worth $621,680,000. FMR LLC lifted its position in Flutter Entertainment by 0.8% during the 4th quarter. FMR LLC now owns 3,401,092 shares of the company’s stock worth $881,349,000 after acquiring an additional 25,422 shares during the period. Aristides Capital LLC lifted its position in Flutter Entertainment by 12.0% during the 4th quarter. Aristides Capital LLC now owns 4,480 shares of the company’s stock worth $1,162,000 after acquiring an additional 480 shares during the period. Ilmarinen Mutual Pension Insurance Co acquired a new stake in Flutter Entertainment during the 4th quarter worth about $11,630,000. Finally, Russell Investments Group Ltd. lifted its position in Flutter Entertainment by 118.0% during the 4th quarter. Russell Investments Group Ltd. now owns 18,278 shares of the company’s stock worth $4,724,000 after acquiring an additional 9,895 shares during the period.

Analysts Set New Price Targets

FLUT has been the subject of a number of recent research reports. JMP Securities lifted their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Barclays lifted their price target on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Benchmark lifted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company upped their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $311.41.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the firm’s 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 transaction, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction 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. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Stock Up 11.6 %

Flutter Entertainment stock opened at $237.06 on Thursday. 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. The company has a market cap of $42.07 billion and a PE ratio of 1,077.52. The stock’s 50 day moving average price is $251.95 and its 200 day moving average price is $253.36.

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.