Inlet Private Wealth LLC Reduces Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Inlet Private Wealth LLC cut its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,910 shares of the company's stock after selling 1,932 shares during the period. Flutter Entertainment accounts for approximately 1.4% of Inlet Private Wealth LLC's investment portfolio, making the stock its 24th biggest holding. Inlet Private Wealth LLC's holdings in Flutter Entertainment were worth $5,426,000 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. SG Americas Securities LLC bought a new stake in Flutter Entertainment during the 3rd quarter valued at $13,840,000. Atomi Financial Group Inc. acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $253,000. Artemis Investment Management LLP increased its position in shares of Flutter Entertainment by 53.7% during the third quarter. Artemis Investment Management LLP now owns 491,629 shares of the company's stock worth $116,031,000 after acquiring an additional 171,685 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Flutter Entertainment in the 3rd quarter worth about $395,000. Finally, Vontobel Holding Ltd. lifted its position in Flutter Entertainment by 3.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,696,636 shares of the company's stock valued at $399,614,000 after acquiring an additional 52,985 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded down $5.06 during mid-day trading on Friday, reaching $266.93. The company had a trading volume of 1,068,802 shares, compared to its average volume of 1,100,591. The company's 50-day moving average price is $266.52 and its 200-day moving average price is $237.82. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $284.79. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLUT. Craig Hallum boosted their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. UBS Group upped their price target on Flutter Entertainment from $320.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Susquehanna lowered their price target on Flutter Entertainment from $322.00 to $317.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Macquarie began coverage on shares of Flutter Entertainment in a report on Wednesday, December 11th. They set an "outperform" rating and a $340.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a "buy" rating and a $320.00 target price for the company. Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Flutter Entertainment has an average rating of "Buy" and a consensus target price of $305.38.

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.