Investors Purchase High Volume of Call Options on Flutter Entertainment (NYSE:FLUT)

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

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction 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 trade represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction 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 trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Parvus Asset Management Europe Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at $2,146,227,000. Norges Bank bought a new position in Flutter Entertainment in the fourth quarter valued at about $946,681,000. Invesco Ltd. acquired a new stake in shares of Flutter Entertainment during the fourth quarter valued at about $621,680,000. Lone Pine Capital LLC bought a new stake in shares of Flutter Entertainment during the fourth quarter worth about $494,291,000. Finally, Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $436,599,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC boosted their price target on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Truist Financial began coverage on Flutter Entertainment in a report on Wednesday, February 26th. They set a “buy” rating and a $330.00 target price on the stock. BTIG Research set a $323.00 price target on Flutter Entertainment in a report on Monday, February 3rd. Benchmark lifted their price objective on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and a consensus price target of $311.41.

Flutter Entertainment Stock Up 3.0 %

FLUT stock opened at $229.53 on Thursday. The firm has a 50-day moving average price of $258.66 and a 200-day moving average price of $254.00. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $299.73. 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 stock has a market capitalization of $40.73 billion and a P/E ratio of 1,043.32.

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.