Marshall Wace LLP Reduces Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Marshall Wace LLP trimmed its holdings in Flutter Entertainment plc (NYSE:FLUT) by 38.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,460,841 shares of the company’s stock after selling 1,535,998 shares during the period. Flutter Entertainment makes up 0.8% of Marshall Wace LLP’s investment portfolio, making the stock its 11th biggest holding. Marshall Wace LLP’s holdings in Flutter Entertainment were worth $636,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Investment Advisory LLC boosted 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 worth $33,000 after acquiring an additional 50 shares during the period. UMB Bank n.a. boosted its stake in Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Seelaus Asset Management LLC grew its holdings in Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after buying an additional 55 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after buying an additional 59 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of 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 buying an additional 82 shares during the period.

Analyst Ratings Changes

FLUT has been the subject of several recent analyst reports. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a research note on Monday, February 3rd. UBS Group upped their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Stifel Nicolaus initiated coverage on Flutter Entertainment in a research report on Friday, January 17th. They issued a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company boosted their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $312.06.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $229.20 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a market cap of $40.68 billion and a PE ratio of 1,041.80. The company’s fifty day moving average is $249.21 and its 200 day moving average is $253.16. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the 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 owns 62,941 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction 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 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.