Blue Whale Capital LLP Purchases 148,418 Shares of Flutter Entertainment plc (NYSE:FLUT)

Blue Whale Capital LLP increased its holdings in Flutter Entertainment plc (NYSE:FLUT) by 94.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,161 shares of the company’s stock after purchasing an additional 148,418 shares during the quarter. Flutter Entertainment accounts for 5.9% of Blue Whale Capital LLP’s holdings, making the stock its 5th biggest position. Blue Whale Capital LLP owned about 0.17% of Flutter Entertainment worth $79,127,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its position in Flutter Entertainment by 585.7% during 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. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth $26,000. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $26,000. Finally, IFP Advisors Inc increased its holdings in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after buying an additional 83 shares during the last quarter.

Analysts Set New Price Targets

FLUT has been the subject of a number of analyst reports. JMP Securities lifted their target price on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Benchmark upped their price objective 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. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC boosted their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $205.81 on Monday. The stock has a market cap of $36.53 billion and a PE ratio of 935.50. The stock has a 50-day moving average of $256.42 and a 200-day moving average of $253.95. 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 one year low of $174.03 and a one year high of $299.73.

Insider Transactions at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated 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 completion of the transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were 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 approximately $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.

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.