SeaCrest Wealth Management LLC Acquires New Stake in Flutter Entertainment plc (NYSE:FLUT)

SeaCrest Wealth Management LLC bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,510 shares of the company's stock, valued at approximately $390,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company's stock valued at $56,000 after purchasing an additional 99 shares during the period. Bleakley Financial Group LLC lifted its stake in Flutter Entertainment by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company's stock valued at $737,000 after buying an additional 136 shares during the period. Hohimer Wealth Management LLC boosted its holdings in shares of Flutter Entertainment by 3.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company's stock worth $1,306,000 after buying an additional 181 shares in the last quarter. M&T Bank Corp grew its position in shares of Flutter Entertainment by 11.3% during the 3rd quarter. M&T Bank Corp now owns 1,995 shares of the company's stock worth $469,000 after buying an additional 203 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $82,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FLUT. Benchmark increased their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Stifel Nicolaus assumed coverage on shares of Flutter Entertainment in a research report on Friday. They set a "buy" rating and a $320.00 price objective on the stock. Moffett Nathanson boosted their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a "buy" rating and a $320.00 price target on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Wednesday, January 8th. Seventeen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Flutter Entertainment presently has an average rating of "Buy" and a consensus target price of $304.44.

Flutter Entertainment Trading Up 2.1 %

NYSE:FLUT traded up $5.47 on Friday, hitting $263.03. The stock had a trading volume of 1,200,603 shares, compared to its average volume of 1,033,112. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $284.79. The firm's fifty day simple moving average is $265.79 and its two-hundred day simple moving average is $232.86. 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 announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

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.