Anthracite Investment Company Inc. Raises Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Anthracite Investment Company Inc. lifted its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 58.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,000 shares of the company’s stock after purchasing an additional 7,000 shares during the quarter. Flutter Entertainment comprises about 1.7% of Anthracite Investment Company Inc.’s investment portfolio, making the stock its 10th largest holding. Anthracite Investment Company Inc.’s holdings in Flutter Entertainment were worth $4,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Jennison Associates LLC acquired a new stake in Flutter Entertainment in the 4th quarter valued at about $239,306,000. Vestcor Inc acquired a new position in Flutter Entertainment in the third quarter worth approximately $815,000. DJE Kapital AG bought a new position in shares of Flutter Entertainment in the fourth quarter valued at $442,000. Sanctuary Advisors LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $802,000. Finally, Benson Investment Management Company Inc. bought a new stake in shares of Flutter Entertainment during the 4th quarter worth $5,116,000.

Flutter Entertainment Stock Down 2.2 %

Shares of NYSE:FLUT opened at $241.10 on Wednesday. The firm has a market cap of $42.79 billion and a P/E ratio of 1,095.91. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73. The business has a fifty day simple moving average of $262.66 and a 200 day simple moving average of $253.85. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC upped their target price on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. BTIG Research set a $323.00 price target on shares of Flutter Entertainment in a report on Monday, February 3rd. Macquarie reiterated an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a research note on Wednesday, March 5th. UBS Group upped their price target on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $311.41.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 transaction, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction that occurred on 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 completion of 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 represents a 15.80 % 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.