LPL Financial LLC Raises Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

LPL Financial LLC grew its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 491.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,238 shares of the company's stock after purchasing an additional 31,768 shares during the period. LPL Financial LLC's holdings in Flutter Entertainment were worth $9,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Flutter Entertainment during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $26,000. BOCHK Asset Management Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $26,000. Finally, IFP Advisors Inc boosted its position in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after buying an additional 83 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 21,148 shares of the company's stock, 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.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $24.56 on Wednesday, reaching $237.06. 4,330,930 shares of the company's stock were exchanged, compared to its average volume of 1,716,259. The firm has a market cap of $42.07 billion and a price-to-earnings ratio of 1,077.52. 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 stock has a fifty day simple moving average of $251.95 and a 200-day simple moving average of $253.36. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLUT. Needham & Company LLC increased their price target on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. JMP Securities boosted their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a report on Monday, January 6th. Truist Financial began coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They issued a "buy" rating and a $330.00 price objective for the company. Finally, Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.