Stevens Capital Management LP Purchases Shares of 1,025 Flutter Entertainment plc (NYSE:FLUT)

Stevens Capital Management LP acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, Holdings Channel reports. The fund acquired 1,025 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLUT. Jennison Associates LLC acquired a new position in Flutter Entertainment in the fourth quarter worth about $239,306,000. Vestcor Inc bought a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $815,000. DJE Kapital AG acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $442,000. Sanctuary Advisors LLC bought a new position in shares of Flutter Entertainment during the 3rd quarter worth approximately $802,000. Finally, Benson Investment Management Company Inc. acquired a new stake in Flutter Entertainment in the 4th quarter valued at $5,116,000.

Wall Street Analyst Weigh In

FLUT has been the subject of several recent analyst reports. JMP Securities increased their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday, January 6th. UBS Group increased 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. Stifel Nicolaus began coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They set a “buy” rating and a $320.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Benchmark lifted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus price target of $311.41.

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the 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 sale, the director now directly owns 21,148 shares in the company, 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 Flutter Entertainment 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 transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Stock Up 2.5 %

Shares of NYSE:FLUT opened at $247.02 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $43.84 billion and a price-to-earnings ratio of 1,122.80. The company has a 50 day moving average of $263.02 and a 200-day moving average of $253.65. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73.

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.