Raymond James Financial Inc. acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,977 shares of the company's stock, valued at approximately $8,006,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its position in shares of Flutter Entertainment by 585.7% during the fourth 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. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment during the fourth quarter valued at $26,000. BOCHK Asset Management Ltd bought a new position in Flutter Entertainment in the fourth quarter valued at about $26,000. Finally, IFP Advisors Inc increased its position in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after purchasing an additional 83 shares during the period.
Insider Activity at Flutter Entertainment
In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the firm'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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company's 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 transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on FLUT. Needham & Company LLC raised their target price on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Susquehanna cut their price target 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. JMP Securities dropped their price objective on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Stifel Nicolaus lowered their price target on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $309.44.
Read Our Latest Report on Flutter Entertainment
Flutter Entertainment Stock Performance
FLUT opened at $227.08 on Wednesday. The firm has a market capitalization of $40.30 billion and a PE ratio of 1,032.20. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The business's 50-day simple moving average is $244.49 and its 200 day simple moving average is $252.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.
Flutter Entertainment Profile
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Free Report)
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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