Flutter Entertainment Target of Unusually High Options Trading (NYSE:FLUT)

Flutter Entertainment plc (NYSE:FLUT) was the target of some unusual options trading on Tuesday. Traders acquired 12,036 call options on the company. This represents an increase of 690% compared to the typical volume of 1,523 call options.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial assumed coverage on Flutter Entertainment in a report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price target for the company. Needham & Company LLC lifted their target price on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Macquarie restated an “outperform” rating and set a $340.00 price target on shares of Flutter Entertainment in a report on Wednesday, March 5th. Benchmark lifted their price objective on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note 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’s stock. According to data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded up $0.82 during mid-day trading on Tuesday, reaching $222.37. 2,348,509 shares of the company’s stock were exchanged, compared to its average volume of 1,626,106. The firm has a market capitalization of $39.46 billion and a price-to-earnings ratio of 1,008.69. The firm has a 50-day moving average price of $260.34 and a two-hundred day moving average price of $254.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment has a 52 week low of $174.03 and a 52 week high of $299.73.

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm’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 transaction, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. Harbor Investment Advisory LLC lifted its holdings in shares of Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. increased its stake in Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Seelaus Asset Management LLC lifted its position in Flutter Entertainment by 6.4% in the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after purchasing an additional 55 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the last quarter.

About Flutter Entertainment

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.