Allstate Corp Buys Shares of 5,299 Flutter Entertainment plc (NYSE:FLUT)

Allstate Corp purchased a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,299 shares of the company’s stock, valued at approximately $1,370,000.

Several other hedge funds have also recently made changes to their positions in FLUT. DnB Asset Management AS lifted its position in shares of Flutter Entertainment by 9.0% during the 4th quarter. DnB Asset Management AS now owns 31,421 shares of the company’s stock valued at $8,121,000 after acquiring an additional 2,586 shares during the period. Level Four Advisory Services LLC bought a new stake in Flutter Entertainment in the fourth quarter valued at $222,000. Pictet Asset Management Holding SA raised its holdings in shares of Flutter Entertainment by 3.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 57,321 shares of the company’s stock valued at $14,815,000 after purchasing an additional 1,667 shares during the period. Blair William & Co. IL bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $225,000. Finally, Norges Bank bought a new stake in Flutter Entertainment in the 4th quarter valued at about $946,681,000.

Flutter Entertainment Stock Down 3.8 %

Shares of NYSE FLUT opened at $228.35 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $261.17 and a 200-day moving average of $254.15. The firm has a market capitalization of $40.53 billion and a price-to-earnings 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 Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 62,941 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLUT. JMP Securities raised their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Truist Financial started coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They set a “buy” rating and a $330.00 target price for the company. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. UBS Group raised their target price on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $311.41.

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.