abrdn plc Grows Stake in Flutter Entertainment plc (NYSE:FLUT)

abrdn plc increased its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 6,491.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,221 shares of the company's stock after buying an additional 61,277 shares during the quarter. abrdn plc's holdings in Flutter Entertainment were worth $16,056,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC acquired a new position in Flutter Entertainment during the fourth quarter valued at $239,306,000. Lederer & Associates Investment Counsel CA acquired a new stake in Flutter Entertainment during the 4th quarter valued at $1,510,000. SkyOak Wealth LLC bought a new position in Flutter Entertainment in the 4th quarter valued at $217,000. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Flutter Entertainment by 6.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,912 shares of the company's stock worth $1,528,000 after purchasing an additional 364 shares during the last quarter. Finally, Independence Bank of Kentucky bought a new position in shares of Flutter Entertainment in the 4th quarter worth $518,000.

Analysts Set New Price Targets

Several research firms have issued reports on FLUT. JMP Securities lifted their price target on Flutter Entertainment from $299.00 to $311.00 and gave the company a "market outperform" rating in a research note on Monday, January 6th. Oppenheimer boosted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. BTIG Research boosted their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Wells Fargo & Company reduced their price objective on Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, UBS Group boosted their price target on Flutter Entertainment from $320.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Seventeen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $305.38.

Flutter Entertainment Stock Down 0.1 %

NYSE FLUT traded down $0.15 during trading hours on Monday, hitting $268.39. The company's stock had a trading volume of 517,434 shares, compared to its average volume of 1,153,765. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $284.79. 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 $265.54 and its two-hundred day simple moving average is $240.36.

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.