Parvus Asset Management Europe Ltd Buys New Position in Flutter Entertainment plc (NYSE:FLUT)

Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,304,227 shares of the company’s stock, valued at approximately $2,146,227,000. Flutter Entertainment comprises about 100.0% of Parvus Asset Management Europe Ltd’s portfolio, making the stock its biggest position. Parvus Asset Management Europe Ltd owned 4.68% of Flutter Entertainment at the end of the most recent reporting period.

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

Flutter Entertainment Trading Down 2.6 %

NYSE:FLUT opened at $221.70 on Tuesday. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. 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 firm’s 50 day moving average is $245.59 and its 200 day moving average is $253.01. The stock has a market capitalization of $39.35 billion and a PE ratio of 1,007.73.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts have commented on FLUT shares. JMP Securities reduced their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating for the company in a report on Monday, April 14th. UBS Group raised their target price on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Wells Fargo & Company lifted their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC upped their target price 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. Twenty investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and an average target price of $312.06.

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.