Proficio Capital Partners LLC Increases Position in Flutter Entertainment plc (NYSE:FLUT)

Proficio Capital Partners LLC boosted its position in Flutter Entertainment plc (NYSE:FLUT) by 13.0% during the fourth quarter, Holdings Channel reports. The fund owned 9,992 shares of the company’s stock after acquiring an additional 1,152 shares during the period. Proficio Capital Partners LLC’s holdings in Flutter Entertainment were worth $2,582,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at about $849,474,000. Bank of Montreal Can lifted its position in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after buying an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC boosted its stake in Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Geode Capital Management LLC bought a new position in Flutter Entertainment during the third quarter valued at approximately $436,599,000. Finally, State Street Corp raised its stake in shares of Flutter Entertainment by 61,014.6% during the third quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after acquiring an additional 1,009,792 shares in the last quarter.

Flutter Entertainment Stock Down 2.2 %

Shares of Flutter Entertainment stock opened at $234.10 on Wednesday. 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. The company has a market cap of $41.55 billion and a P/E ratio of 1,064.09. The company’s fifty day simple moving average is $264.05 and its two-hundred day simple moving average is $252.81.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of research reports. JMP Securities upped their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Barclays upped their price target on shares of Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective on the stock. BTIG Research set a $323.00 target price on Flutter Entertainment in a report on Monday, February 3rd. Finally, Benchmark lifted their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $311.41.

Insider Activity

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 stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment 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.