Quantbot Technologies LP Invests $4.05 Million in Flutter Entertainment plc (NYSE:FLUT)

Quantbot Technologies LP bought a new stake in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,684 shares of the company’s stock, valued at approximately $4,054,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sciencast Management LP acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at $2,180,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Flutter Entertainment in the 4th quarter valued at about $8,359,000. Royal London Asset Management Ltd. boosted its stake in shares of Flutter Entertainment by 1.2% during the 4th quarter. Royal London Asset Management Ltd. now owns 140,765 shares of the company’s stock worth $36,381,000 after purchasing an additional 1,655 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $25,000. Finally, Xponance Inc. grew its holdings in shares of Flutter Entertainment by 7.8% during the fourth quarter. Xponance Inc. now owns 9,033 shares of the company’s stock worth $2,335,000 after buying an additional 657 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $241.20 on Friday. The firm’s 50 day moving average is $263.22 and its two-hundred day moving average is $252.85. The firm has a market capitalization of $42.81 billion and a P/E ratio of 1,096.37. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of recent analyst reports. Benchmark lifted their price objective on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Barclays lifted their price target on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Wells Fargo & Company raised their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. JMP Securities upped their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research report on Monday, January 6th. Finally, Macquarie reiterated an “outperform” rating and issued a $340.00 price target on shares of Flutter Entertainment in a report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $311.41.

Insider Buying and Selling

In related news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % 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.