Korea Investment CORP Raises Position in Flutter Entertainment plc (NYSE:FLUT)

Korea Investment CORP grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 52.1% in the fourth quarter, HoldingsChannel reports. The fund owned 256,254 shares of the company’s stock after purchasing an additional 87,776 shares during the quarter. Korea Investment CORP’s holdings in Flutter Entertainment were worth $66,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of FLUT. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the fourth quarter worth about $25,000. Farther Finance Advisors LLC increased its stake in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at $26,000. BOCHK Asset Management Ltd purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at $26,000. Finally, IFP Advisors Inc boosted its holdings in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after buying an additional 83 shares during the period.

Analysts Set New Price Targets

FLUT has been the subject of a number of recent analyst reports. Barclays upped their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial initiated coverage on Flutter Entertainment in a research note on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price objective on the stock. Macquarie reissued an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Susquehanna cut their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $236.99 on Friday. The firm has a market capitalization of $42.06 billion and a PE ratio of 1,077.21. The stock’s fifty day moving average is $261.86 and its 200 day moving average is $253.61. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Insider Buying and Selling at Flutter Entertainment

In other news, 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’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 completion of the transaction, the director now 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.

Flutter Entertainment 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.