Flutter Entertainment plc (NYSE:FLUT) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 491.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,238 shares of the company’s stock after acquiring an additional 31,768 shares during the period. LPL Financial LLC’s holdings in Flutter Entertainment were worth $9,883,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its holdings in Flutter Entertainment by 137.1% during the 4th quarter. Sei Investments Co. now owns 58,214 shares of the company’s stock worth $15,046,000 after buying an additional 33,663 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth $303,000. Quantbot Technologies LP acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at $4,054,000. Sciencast Management LP purchased a new position in Flutter Entertainment in the fourth quarter valued at $2,180,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Flutter Entertainment during the 4th quarter worth $8,359,000.

Analyst Ratings Changes

A number of analysts recently weighed in on FLUT shares. Barclays upped their target price on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Macquarie reaffirmed an “outperform” rating and set a $340.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Benchmark increased their target price on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, UBS Group upped their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Nineteen investment 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, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $311.41.

Insiders Place Their Bets

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction 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 transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 5.4 %

NYSE:FLUT opened at $205.81 on Friday. The company has a market capitalization of $36.53 billion and a PE ratio of 935.50. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The stock has a fifty day simple moving average of $256.42 and a 200-day simple moving average of $253.61. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

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.