Artisan Partners Limited Partnership Makes New $98.79 Million Investment in Flutter Entertainment plc (NYSE:FLUT)

Artisan Partners Limited Partnership purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 382,222 shares of the company’s stock, valued at approximately $98,785,000. Artisan Partners Limited Partnership owned approximately 0.22% of Flutter Entertainment as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Flutter Entertainment by 8.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 127,301 shares of the company’s stock valued at $32,686,000 after purchasing an additional 10,232 shares in the last quarter. Korea Investment CORP grew its holdings in Flutter Entertainment by 52.1% in the fourth quarter. Korea Investment CORP now owns 256,254 shares of the company’s stock valued at $66,229,000 after purchasing an additional 87,776 shares during the last quarter. Anthracite Investment Company Inc. increased its position in shares of Flutter Entertainment by 58.3% in the fourth quarter. Anthracite Investment Company Inc. now owns 19,000 shares of the company’s stock valued at $4,911,000 after buying an additional 7,000 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of Flutter Entertainment during the 4th quarter worth $598,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Flutter Entertainment by 3.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 85,949 shares of the company’s stock worth $22,222,000 after buying an additional 2,784 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLUT. Wells Fargo & Company raised their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. JMP Securities raised their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday, January 6th. UBS Group upped their target price on Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Benchmark raised their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Susquehanna cut their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus target price of $311.41.

Flutter Entertainment Trading Up 0.3 %

FLUT stock opened at $236.99 on Friday. 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 market cap of $42.06 billion and a price-to-earnings ratio of 1,077.21. The business has a fifty day simple moving average of $261.86 and a 200-day simple moving average of $253.61. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73.

Insiders Place Their Bets

In other news, CEO Amy Howe sold 11,814 shares of the 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 completion of the sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s 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 sale, the director now directly owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This trade represents 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.