1,912,519 Shares in Flutter Entertainment plc (NYSE:FLUT) Acquired by Lone Pine Capital LLC

Lone Pine Capital LLC bought a new position in Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,912,519 shares of the company’s stock, valued at approximately $494,291,000. Flutter Entertainment accounts for 3.7% of Lone Pine Capital LLC’s investment portfolio, making the stock its 14th largest holding. Lone Pine Capital LLC owned about 1.08% of Flutter Entertainment at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of Flutter Entertainment by 6.4% in the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after purchasing an additional 55 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Flutter Entertainment by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter.

Insider Activity

In other Flutter Entertainment news, 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 transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLUT. Stifel Nicolaus cut their price target on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Barclays cut their price target on Flutter Entertainment from $308.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. UBS Group upped their target price on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, BTIG Research dropped their target price on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and an average target price of $306.67.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $232.86 on Monday. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The stock’s 50 day moving average is $240.54 and its 200-day moving average is $252.83. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $41.33 billion and a price-to-earnings ratio of 1,058.45.

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.