Envestnet Portfolio Solutions Inc. Grows Stake in Flutter Entertainment plc (NYSE:FLUT)

Envestnet Portfolio Solutions Inc. increased its holdings in Flutter Entertainment plc (NYSE:FLUT) by 172.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,604 shares of the company’s stock after buying an additional 1,648 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Flutter Entertainment were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLUT. Picton Mahoney Asset Management increased its stake in Flutter Entertainment by 35.7% in the 4th quarter. Picton Mahoney Asset Management now owns 37,581 shares of the company’s stock worth $9,712,000 after acquiring an additional 9,880 shares during the last quarter. Wellington Shields & Co. LLC increased its position in shares of Flutter Entertainment by 9.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 2,147 shares of the company’s stock worth $555,000 after purchasing an additional 188 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Flutter Entertainment by 36.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,776 shares of the company’s stock worth $459,000 after purchasing an additional 473 shares during the last quarter. Egerton Capital UK LLP raised its stake in Flutter Entertainment by 3.4% in the fourth quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock valued at $485,210,000 after purchasing an additional 61,833 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $247.02 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The firm has a market cap of $43.84 billion and a P/E ratio of 1,122.80. The business’s 50 day moving average price is $263.02 and its 200-day moving average price is $253.65.

Analyst Ratings Changes

Several research analysts recently issued reports on FLUT shares. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Barclays increased their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Wells Fargo & Company upped their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $311.41.

Insider Buying and Selling

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm’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 of the company’s stock, 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.

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.