Principal Securities Inc. Increases Position in Flutter Entertainment plc (NYSE:FLUT)

Principal Securities Inc. increased its stake in Flutter Entertainment plc (NYSE:FLUT) by 158.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 220 shares of the company’s stock after buying an additional 135 shares during the quarter. Principal Securities Inc.’s holdings in Flutter Entertainment were worth $57,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FLUT. Massachusetts Financial Services Co. MA purchased a new position in shares of Flutter Entertainment in 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 raised its holdings in shares of Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after acquiring an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Flutter Entertainment by 3,827.8% during the third 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, Geode Capital Management LLC bought a new position in shares of Flutter Entertainment in the third quarter worth approximately $436,599,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FLUT shares. Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They issued a “buy” rating and a $320.00 target price for the company. Craig Hallum boosted their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. BTIG Research set a $323.00 target price on Flutter Entertainment in a research note on Monday, February 3rd. Truist Financial started coverage on Flutter Entertainment in a report on Wednesday. They set a “buy” rating and a $330.00 target price for the company. Finally, Barclays raised their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Eighteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $307.88.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $272.09 on Friday. The company has a quick ratio of 0.89, a current 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 $299.73. The firm’s 50-day moving average price is $266.75 and its 200-day moving average price is $248.36.

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.