Groupama Asset Managment Sells 227 Shares of Flutter Entertainment plc (NYSE:FLUT)

Groupama Asset Managment lowered its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,444 shares of the company’s stock after selling 227 shares during the period. Groupama Asset Managment’s holdings in Flutter Entertainment were worth $1,665,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Flutter Entertainment in the 4th quarter valued at $946,681,000. Geode Capital Management LLC bought a new stake in Flutter Entertainment in the third quarter valued at about $436,599,000. State Street Corp raised its position in Flutter Entertainment by 61,014.6% in the third quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after purchasing an additional 1,009,792 shares in the last quarter. Jennison Associates LLC bought a new position in Flutter Entertainment during the fourth quarter worth about $239,306,000. Finally, William Blair Investment Management LLC acquired a new stake in Flutter Entertainment during the fourth quarter valued at approximately $137,958,000.

Flutter Entertainment Trading Up 3.0 %

Shares of NYSE FLUT opened at $229.53 on Thursday. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The firm has a market capitalization of $40.73 billion and a P/E ratio of 1,043.32. 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 company’s 50 day simple moving average is $258.66 and its 200 day simple moving average is $254.00.

Analyst Upgrades and Downgrades

FLUT has been the subject of several analyst reports. BTIG Research set a $323.00 target price on Flutter Entertainment in a research report on Monday, February 3rd. Stifel Nicolaus began coverage on Flutter Entertainment in a report on Friday, January 17th. They set a “buy” rating and a $320.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Susquehanna cut their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Finally, Macquarie reaffirmed an “outperform” rating and set a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $311.41.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment 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 directly owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80 % 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.