William Blair Investment Management LLC Takes $137.96 Million Position in Flutter Entertainment plc (NYSE:FLUT)

William Blair Investment Management LLC purchased a new position in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 533,788 shares of the company's stock, valued at approximately $137,958,000. William Blair Investment Management LLC owned approximately 0.30% of Flutter Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC boosted its holdings in Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company's stock worth $33,000 after acquiring an additional 50 shares in the last quarter. UMB Bank n.a. raised its position in shares of Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company's stock worth $35,000 after purchasing an additional 50 shares during the last quarter. Seelaus Asset Management LLC boosted its stake in Flutter Entertainment by 6.4% in the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company's stock worth $236,000 after purchasing an additional 55 shares in the last quarter. Ritholtz Wealth Management grew its position in Flutter Entertainment by 3.5% during the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company's stock valued at $446,000 after purchasing an additional 59 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter.

Remove Ads

Insiders Place Their Bets

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the transaction, the chief executive officer now owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

FLUT traded up $0.35 during trading hours on Friday, hitting $241.20. The company's stock had a trading volume of 5,441,403 shares, compared to its average volume of 1,458,727. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The business's 50-day moving average price is $263.47 and its 200-day moving average price is $252.65. The stock has a market cap of $42.81 billion and a price-to-earnings ratio of 1,096.37.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FLUT shares. Macquarie reiterated an "outperform" rating and issued a $340.00 target price on shares of Flutter Entertainment in a research note on Wednesday, March 5th. The Goldman Sachs Group started coverage on Flutter Entertainment in a research report on Friday, November 22nd. They issued a "buy" rating and a $320.00 price objective on the stock. Barclays increased their target price on Flutter Entertainment from $301.00 to $308.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Benchmark boosted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC increased their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Buy" and a consensus target price of $311.41.

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.