Capital Research Global Investors Sells 1,711,140 Shares of Flutter Entertainment plc (NYSE:FLUT)

Capital Research Global Investors lessened its holdings in Flutter Entertainment plc (NYSE:FLUT) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,258,054 shares of the company’s stock after selling 1,711,140 shares during the period. Capital Research Global Investors owned approximately 0.06% of Flutter Entertainment worth $2,909,636,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FLUT. Jennison Associates LLC bought a new stake in shares of Flutter Entertainment in the 4th quarter worth about $239,306,000. DJE Kapital AG bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $442,000. Benson Investment Management Company Inc. purchased a new stake in Flutter Entertainment during the fourth quarter valued at approximately $5,116,000. Sanctuary Advisors LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $802,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Flutter Entertainment by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock worth $51,642,000 after purchasing an additional 81,101 shares during the period.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Stock Up 0.1 %

Shares of Flutter Entertainment stock opened at $227.42 on Friday. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year 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 cap of $40.36 billion and a price-to-earnings ratio of 1,033.70. The firm’s 50-day moving average is $246.72 and its two-hundred day moving average is $252.86.

Analyst Upgrades and Downgrades

FLUT has been the topic of several recent research reports. JMP Securities decreased their price target on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a report on Monday, February 3rd. Barclays upped their price target on shares of Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Citigroup reissued 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 research note on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $312.06.

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.