Envestnet Asset Management Inc. Acquires 43,829 Shares of Flutter Entertainment plc (NYSE:FLUT)

Envestnet Asset Management Inc. raised its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 181.2% during the fourth quarter, according to its most recent filing with the SEC. 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.

Other large investors have also modified their holdings of the company. Jennison Associates LLC purchased a new position in Flutter Entertainment during the fourth quarter valued at approximately $239,306,000. DJE Kapital AG bought a new stake in Flutter Entertainment during the 4th quarter valued at $442,000. Sanctuary Advisors LLC purchased a new position in shares of Flutter Entertainment in the 3rd quarter valued at $802,000. Benson Investment Management Company Inc. bought a new position in shares of Flutter Entertainment in the 4th quarter worth $5,116,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Flutter Entertainment by 68.3% during the 4th 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.

Wall Street Analysts Forecast Growth

Several equities analysts have 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. UBS Group lifted their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citizens Jmp decreased their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research report on Monday. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Susquehanna reduced their price target 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. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $312.06.

Flutter Entertainment Stock Performance

FLUT opened at $229.20 on Wednesday. The firm has a 50 day moving average of $249.21 and a two-hundred day moving average of $253.16. The firm has a market capitalization of $40.68 billion and a PE ratio of 1,041.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $299.73.

Insider Buying and Selling

In related news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’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 value of $6,556,072.92. Following the completion of the transaction, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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.