Flutter Entertainment plc (NYSE:FLUT) Stock Position Lifted by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP increased its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 191.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,594 shares of the company's stock after buying an additional 124,594 shares during the period. Flutter Entertainment accounts for approximately 7.1% of Ardmore Road Asset Management LP's investment portfolio, making the stock its 2nd biggest holding. Ardmore Road Asset Management LP owned about 0.11% of Flutter Entertainment worth $49,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLUT. Huntington National Bank increased its stake in Flutter Entertainment by 2,885.7% during the 4th quarter. Huntington National Bank now owns 209 shares of the company's stock valued at $54,000 after purchasing an additional 202 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Flutter Entertainment by 39.5% during the fourth quarter. Trexquant Investment LP now owns 17,320 shares of the company's stock valued at $4,476,000 after buying an additional 4,903 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Flutter Entertainment by 4.9% during the fourth quarter. Franklin Resources Inc. now owns 49,316 shares of the company's stock worth $12,786,000 after acquiring an additional 2,304 shares in the last quarter. Cannell & Spears LLC acquired a new stake in shares of Flutter Entertainment in the 4th quarter worth about $21,475,000. Finally, Wellington Management Group LLP raised its holdings in shares of Flutter Entertainment by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company's stock worth $688,081,000 after acquiring an additional 333,294 shares during the last quarter.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded up $0.95 during midday trading on Monday, reaching $207.27. 1,908,046 shares of the stock were exchanged, compared to its average volume of 2,091,666. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $36.78 billion and a PE ratio of 942.06. The company's fifty day moving average is $256.42 and its 200-day moving average is $253.95.

Insider Buying and Selling

In other news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction 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 approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 62,941 shares of the company's stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. JMP Securities upped their price target on Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a report on Monday, January 6th. Susquehanna dropped their price objective on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Macquarie reiterated an "outperform" rating and issued a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $311.41.

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.