BW Gestao de Investimentos Ltda. Takes $3.91 Million Position in Flutter Entertainment plc (NYSE:FLUT)

BW Gestao de Investimentos Ltda. purchased a new position in Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,128 shares of the company’s stock, valued at approximately $3,910,000.

Other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its position in shares of Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock worth $2,479,812,000 after acquiring an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd acquired a new position in Flutter Entertainment in the fourth quarter valued at about $2,146,227,000. Norges Bank bought a new stake in shares of Flutter Entertainment in the fourth quarter worth about $946,681,000. Finally, FMR LLC raised its position in shares of Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company’s stock worth $881,349,000 after purchasing an additional 25,422 shares during the period.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $248.40 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. 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 price is $237.02 and its two-hundred day moving average price is $253.17. The firm has a market capitalization of $43.90 billion and a price-to-earnings ratio of 1,129.09.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 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. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FLUT shares. Citizens Jmp lowered their target price on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Needham & Company LLC increased their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Barclays reduced their target price on shares of Flutter Entertainment from $308.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Truist Financial reduced their price objective on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $306.67.

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.