Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Flutter Entertainment plc (NYSE:FLUT) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,301 shares of the company’s stock after acquiring an additional 10,232 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Flutter Entertainment worth $32,686,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $436,599,000. State Street Corp boosted its stake in shares of Flutter Entertainment by 61,014.6% during the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company’s stock valued at $239,996,000 after buying an additional 1,009,792 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $239,306,000. William Blair Investment Management LLC bought a new stake in shares of Flutter Entertainment in the fourth quarter worth $137,958,000. Finally, Vanguard Group Inc. raised its holdings in Flutter Entertainment by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after acquiring an additional 299,300 shares in the last quarter.

Wall Street Analyst Weigh In

FLUT has been the subject of several research analyst reports. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. BTIG Research set a $323.00 price objective on Flutter Entertainment in a research note on Monday, February 3rd. Barclays increased their target price on Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, UBS Group raised their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $311.41.

Flutter Entertainment Stock Down 3.8 %

FLUT opened at $228.35 on Friday. The stock’s 50 day moving average price is $261.17 and its 200 day moving average price is $253.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $40.53 billion and a P/E ratio of 1,037.97. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

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.