Envestnet Asset Management Inc. Increases Position in Flutter Entertainment plc (NYSE:FLUT)

Envestnet Asset Management Inc. boosted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 181.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 68,023 shares of the company’s stock after purchasing an additional 43,829 shares during the period. Envestnet Asset Management Inc.’s holdings in Flutter Entertainment were worth $17,581,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FLUT. Norges Bank purchased a new position in shares of Flutter Entertainment during the 4th quarter valued at approximately $946,681,000. Jennison Associates LLC purchased a new position in Flutter Entertainment during the fourth quarter valued at $239,306,000. William Blair Investment Management LLC acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $137,958,000. Artisan Partners Limited Partnership acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $98,785,000. Finally, Wellington Management Group LLP increased its stake in shares of Flutter Entertainment by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 2,652,843 shares of the company’s stock worth $688,081,000 after purchasing an additional 333,294 shares in the last quarter.

Insiders Place Their Bets

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

Flutter Entertainment Stock Down 1.5 %

FLUT stock opened at $229.20 on Wednesday. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The firm has a market cap of $40.68 billion and a PE ratio of 1,041.80. The firm’s 50 day moving average price is $249.21 and its 200-day moving average price is $253.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FLUT shares. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Susquehanna decreased their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Barclays raised their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, UBS Group upped their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $312.06.

Flutter Entertainment Company Profile

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.