Soros Fund Management LLC Acquires 36,107 Shares of Flutter Entertainment plc (NYSE:FLUT)

Soros Fund Management LLC lifted its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 31.5% in the 4th quarter, Holdings Channel reports. The fund owned 150,833 shares of the company’s stock after buying an additional 36,107 shares during the quarter. Soros Fund Management LLC’s holdings in Flutter Entertainment were worth $38,983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors lifted its holdings in Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares in the last quarter. Vanguard Group Inc. increased its stake in Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock worth $2,479,812,000 after purchasing an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment during the 4th quarter valued at $2,146,227,000. Norges Bank purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $946,681,000. Finally, FMR LLC grew its position in shares of Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company’s stock worth $881,349,000 after buying an additional 25,422 shares during the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred 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 transaction, the director now 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $235.27 on Tuesday. The company has a fifty day simple moving average of $239.41 and a two-hundred day simple moving average of $252.94. The company has a quick ratio of 0.89, a current 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. The company has a market cap of $41.75 billion and a price-to-earnings ratio of 1,069.41.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Needham & Company LLC increased their target price on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Barclays cut their target price on shares of Flutter Entertainment from $308.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company raised their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and an average price target of $306.67.

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.