Voleon Capital Management LP Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

Voleon Capital Management LP acquired a new stake in Flutter Entertainment plc (NYSE:FLUT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,845 shares of the company’s stock, valued at approximately $1,769,000.

Other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC increased its holdings in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in Flutter Entertainment during the fourth quarter worth $26,000. BOCHK Asset Management Ltd acquired a new stake in Flutter Entertainment in the fourth quarter valued at $26,000. Finally, IFP Advisors Inc grew its position in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after acquiring an additional 83 shares during the period.

Flutter Entertainment Trading Up 0.8 %

Shares of FLUT stock opened at $240.58 on Thursday. The firm has a market cap of $42.52 billion and a P/E ratio of 1,093.55. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. 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 company has a 50 day moving average of $237.79 and a 200-day moving average of $252.76.

Insiders Place Their Bets

In other 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 in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the 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 sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FLUT shares. Citizens Jmp lowered their price target on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Truist Financial dropped their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Macquarie restated an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, BTIG Research reduced their price target on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $306.67.

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.