Raymond James Financial Inc. Buys New Holdings in Flutter Entertainment plc (NYSE:FLUT)

Raymond James Financial Inc. bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 30,977 shares of the company’s stock, valued at approximately $8,006,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arizona State Retirement System bought a new stake in Flutter Entertainment during the 4th quarter valued at approximately $13,349,000. Proficio Capital Partners LLC grew its holdings in Flutter Entertainment by 13.0% during the 4th quarter. Proficio Capital Partners LLC now owns 9,992 shares of the company’s stock valued at $2,582,000 after buying an additional 1,152 shares in the last quarter. Atria Investments Inc purchased a new position in Flutter Entertainment during the 4th quarter valued at approximately $204,000. Assetmark Inc. grew its holdings in Flutter Entertainment by 8.3% during the 4th quarter. Assetmark Inc. now owns 14,813 shares of the company’s stock valued at $3,828,000 after buying an additional 1,136 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Flutter Entertainment by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock valued at $170,913,000 after buying an additional 38,800 shares in the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $241.20 on Friday. The business has a fifty day moving average of $263.22 and a 200 day moving average of $253.14. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week 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 stock has a market cap of $42.81 billion and a P/E ratio of 1,096.37.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BTIG Research set a $323.00 price target on Flutter Entertainment in a report on Monday, February 3rd. Benchmark raised their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Barclays raised their price target on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. UBS Group raised their price target on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Stifel Nicolaus assumed coverage on Flutter Entertainment in a report on Friday, January 17th. They issued a “buy” rating and a $320.00 target price for the company. Nineteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $311.41.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction 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 sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. 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.