Catalyst Funds Management Pty Ltd Cuts Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Catalyst Funds Management Pty Ltd lowered its stake in Flutter Entertainment plc (NYSE:FLUT) by 2.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,800 shares of the company’s stock after selling 300 shares during the period. Flutter Entertainment accounts for about 0.7% of Catalyst Funds Management Pty Ltd’s holdings, making the stock its 29th largest holding. Catalyst Funds Management Pty Ltd’s holdings in Flutter Entertainment were worth $3,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in Flutter Entertainment during the 4th quarter valued at $26,000. BOCHK Asset Management Ltd purchased a new stake in Flutter Entertainment during the 4th quarter valued at $26,000. IFP Advisors Inc boosted its stake in Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have commented on FLUT shares. Barclays increased their target price on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. BTIG Research set a $323.00 price target on Flutter Entertainment in a research note on Monday, February 3rd. Macquarie restated an “outperform” rating and issued a $340.00 price target on shares of Flutter Entertainment in a research note on Wednesday, March 5th. JMP Securities raised their price target 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. Finally, Wells Fargo & Company raised their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and a consensus price target of $311.41.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $237.19 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. The business’s 50-day simple moving average is $264.74 and its two-hundred day simple moving average is $251.84. The stock has a market cap of $42.09 billion and a PE ratio of 1,078.13. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. 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.