Raymond James Financial Inc. Buys Shares of 30,977 Flutter Entertainment plc (NYSE:FLUT)

Raymond James Financial Inc. acquired a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,977 shares of the company's stock, valued at approximately $8,006,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Flutter Entertainment by 11,727.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 622,501 shares of the company's stock worth $147,707,000 after buying an additional 617,238 shares during the period. Cerity Partners LLC increased its position in shares of Flutter Entertainment by 99.3% during the third quarter. Cerity Partners LLC now owns 2,583 shares of the company's stock worth $613,000 after acquiring an additional 1,287 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Flutter Entertainment in the third quarter valued at $410,000. Blue Whale Capital LLP boosted its holdings in Flutter Entertainment by 46.6% in the third quarter. Blue Whale Capital LLP now owns 157,743 shares of the company's stock valued at $37,429,000 after purchasing an additional 50,123 shares during the period. Finally, Canton Hathaway LLC acquired a new position in Flutter Entertainment during the 3rd quarter worth $240,000.

Insider Buying and Selling

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares of the company's stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

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Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent research reports. Benchmark lifted their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Barclays lifted their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. JMP Securities increased their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a "market outperform" rating in a report on Monday, January 6th. Finally, Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Buy" and a consensus price target of $311.41.

Flutter Entertainment Stock Down 2.2 %

Shares of NYSE:FLUT traded down $5.39 during mid-day trading on Tuesday, hitting $241.10. 2,948,742 shares of the company traded hands, compared to its average volume of 1,477,047. The firm's 50 day simple moving average is $262.66 and its 200 day simple moving average is $253.85. The firm has a market cap of $42.79 billion and a P/E ratio of 1,095.91. 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 plc has a 52-week low of $174.03 and a 52-week high of $299.73.

Flutter Entertainment Profile

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.