NewEdge Advisors LLC Has $352,000 Position in Flutter Entertainment plc (NYSE:FLUT)

NewEdge Advisors LLC boosted its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 21.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358 shares of the company’s stock after acquiring an additional 242 shares during the quarter. NewEdge Advisors LLC’s holdings in Flutter Entertainment were worth $352,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in Flutter Entertainment during the fourth quarter worth $239,306,000. DJE Kapital AG bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $442,000. Benson Investment Management Company Inc. bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $5,116,000. Bank of New York Mellon Corp grew its holdings in shares of Flutter Entertainment by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock worth $51,642,000 after purchasing an additional 81,101 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Flutter Entertainment by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock worth $170,913,000 after purchasing an additional 38,800 shares during the last quarter.

Insider Activity

In other news, CEO Amy Howe sold 11,814 shares of the company’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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several analysts have recently commented on FLUT shares. Benchmark restated a “buy” rating and set a $300.00 target price on shares of Flutter Entertainment in a report on Monday, April 21st. Stifel Nicolaus decreased their target price on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and an average price target of $306.67.

Flutter Entertainment Stock Up 1.4 %

Flutter Entertainment stock opened at $238.61 on Wednesday. The stock has a market capitalization of $42.35 billion and a PE ratio of 1,084.59. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $238.42 and a 200-day moving average of $252.84.

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.