Jennison Associates LLC Makes New $239.31 Million Investment in Flutter Entertainment plc (NYSE:FLUT)

Jennison Associates LLC acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 925,927 shares of the company's stock, valued at approximately $239,306,000. Jennison Associates LLC owned 0.52% of Flutter Entertainment at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLUT. Vestcor Inc acquired a new stake in Flutter Entertainment in the 3rd quarter valued at approximately $815,000. Benson Investment Management Company Inc. bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $5,116,000. Sanctuary Advisors LLC bought a new stake in shares of Flutter Entertainment in the third quarter valued at about $802,000. Raymond James & Associates lifted its position in shares of Flutter Entertainment by 10.0% in the 3rd quarter. Raymond James & Associates now owns 18,348 shares of the company's stock worth $4,354,000 after acquiring an additional 1,663 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $436,599,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FLUT. Stifel Nicolaus assumed coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They set a "buy" rating and a $320.00 price target on the stock. Barclays upped their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price target on shares of Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Susquehanna lowered their price objective on Flutter Entertainment from $322.00 to $317.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, Macquarie initiated coverage on Flutter Entertainment in a research report on Wednesday, December 11th. They set an "outperform" rating and a $340.00 target price for the company. Seventeen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $305.38.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $266.93 on Monday. The business's 50-day simple moving average is $266.52 and its 200 day simple moving average is $237.82. 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 plc has a 12-month low of $174.03 and a 12-month high of $284.79.

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.

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