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

Flutter Entertainment plc (NYSE:FLUT) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 12,036 call options on the stock. This represents an increase of approximately 690% compared to the average volume of 1,523 call options.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’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 completion of the transaction, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cerity Partners LLC lifted its stake in Flutter Entertainment by 99.3% in the 3rd quarter. Cerity Partners LLC now owns 2,583 shares of the company’s stock worth $613,000 after purchasing an additional 1,287 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Flutter Entertainment during the third quarter valued at approximately $7,035,000. TOMS Capital Investment Management LP boosted its stake in Flutter Entertainment by 13.0% during the third quarter. TOMS Capital Investment Management LP now owns 370,269 shares of the company’s stock valued at $87,857,000 after buying an additional 42,705 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in Flutter Entertainment during the 3rd quarter valued at approximately $279,000. Finally, ArrowMark Colorado Holdings LLC bought a new stake in Flutter Entertainment in the 3rd quarter worth approximately $216,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FLUT shares. Wells Fargo & Company boosted their price objective 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. Susquehanna dropped their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Barclays lifted their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, UBS Group increased their target price on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $311.41.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $222.62 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment has a 12-month low of $174.03 and a 12-month high of $299.73. The firm has a market capitalization of $39.51 billion and a price-to-earnings ratio of 1,011.91. The firm has a 50 day moving average of $259.40 and a 200 day moving average of $254.17.

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.