Russell Investments Group Ltd. Increases Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Russell Investments Group Ltd. boosted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 118.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,278 shares of the company's stock after buying an additional 9,895 shares during the period. Russell Investments Group Ltd.'s holdings in Flutter Entertainment were worth $4,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment during the 4th quarter valued at $25,000. Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment during the 4th quarter worth $26,000. BOCHK Asset Management Ltd bought a new position in Flutter Entertainment in the fourth quarter valued at $26,000. Finally, IFP Advisors Inc raised its position in 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 purchasing an additional 83 shares in the last quarter.

Flutter Entertainment Stock Up 0.1 %

Shares of NYSE FLUT traded up $0.24 during mid-day trading on Friday, hitting $227.42. 1,658,665 shares of the stock traded hands, compared to its average volume of 1,762,231. The company has a market cap of $40.36 billion and a price-to-earnings ratio of 1,033.70. The stock has a fifty day moving average price of $246.72 and a 200-day moving average price of $252.86. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Analysts Set New Price Targets

Several equities analysts have recently commented on FLUT shares. Macquarie reiterated an "outperform" rating and set a $340.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They issued a "buy" rating and a $320.00 price objective for the company. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Finally, Truist Financial began coverage on Flutter Entertainment in a report on Wednesday, February 26th. They issued a "buy" rating and a $330.00 price objective on the stock. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $312.06.

Insider Buying and Selling at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm'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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.