National Bank of Canada FI Trims Holdings in Flutter Entertainment plc (NYSE:FLUT)

National Bank of Canada FI reduced its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 98.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,661 shares of the company’s stock after selling 113,040 shares during the quarter. National Bank of Canada FI’s holdings in Flutter Entertainment were worth $433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position 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 valued at $25,000 after acquiring an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at approximately $25,000. Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at approximately $26,000. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at approximately $26,000. Finally, IFP Advisors Inc raised its position in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after acquiring an additional 83 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FLUT. Wells Fargo & Company upped their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial started coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price target on the stock. JMP Securities increased their target price on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research report on Monday, January 6th. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Finally, Benchmark increased their target price on Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research report 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $311.41.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred 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 transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Stock Up 11.6 %

FLUT 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. The stock has a market capitalization of $42.07 billion and a P/E ratio of 1,077.52. The business has a 50-day moving average of $251.95 and a 200-day moving average of $253.36. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73.

About Flutter Entertainment

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.