Traders Purchase Large Volume of Flutter Entertainment Call Options (NYSE:FLUT)

Flutter Entertainment plc (NYSE:FLUT) was the target of unusually large options trading on Tuesday. Investors purchased 12,036 call options on the stock. This is an increase of 690% compared to the typical volume of 1,523 call options.

Insider Buying and Selling

In other news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $6,556,072.92. Following the completion of the sale, 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.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its stake in shares of Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after buying an additional 50 shares during the last quarter. UMB Bank n.a. lifted its holdings in Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the period. Seelaus Asset Management LLC boosted its position in Flutter Entertainment by 6.4% in the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock worth $236,000 after purchasing an additional 55 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Flutter Entertainment by 3.5% during the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLUT shares. Truist Financial assumed coverage on Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 target price for the company. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 price target for the company. Needham & Company LLC upped their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Price Performance

FLUT opened at $229.53 on Thursday. The firm’s fifty day moving average price is $258.66 and its two-hundred day moving average price is $254.00. The company has a market capitalization of $40.73 billion and a price-to-earnings ratio of 1,043.32. 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 has a 1 year low of $174.03 and a 1 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.