Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 344,815 shares of the company's stock after purchasing an additional 10,664 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Flutter Entertainment worth $89,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment during the third quarter worth about $849,474,000. FMR LLC grew its position in Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after buying an additional 393,122 shares in the last quarter. Bank of Montreal Can grew its position in Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock worth $798,927,000 after buying an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC boosted its holdings in shares of Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock worth $568,851,000 after purchasing an additional 2,336,347 shares in the last quarter. Finally, Marathon Asset Management Ltd purchased a new position in shares of Flutter Entertainment in the 3rd quarter worth about $451,631,000.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of research reports. UBS Group upped their price objective on Flutter Entertainment from $320.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Benchmark upped their price objective on Flutter Entertainment from $265.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Macquarie initiated coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an "outperform" rating and a $340.00 price objective for the company. Stifel Nicolaus initiated coverage on Flutter Entertainment in a report on Friday, January 17th. They issued a "buy" rating and a $320.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a report on Wednesday, January 8th. Seventeen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $305.38.

Flutter Entertainment Price Performance

FLUT traded up $9.02 during midday trading on Wednesday, reaching $278.20. 1,833,535 shares of the company's stock traded hands, compared to its average volume of 1,235,280. The firm has a fifty day moving average of $265.09 and a two-hundred day moving average of $241.38. 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 52 week low of $174.03 and a 52 week 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.