Pertento Partners LLP Has $56.28 Million Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Pertento Partners LLP raised its stake in Flutter Entertainment plc (NYSE:FLUT) by 64.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,771 shares of the company’s stock after buying an additional 85,207 shares during the period. Flutter Entertainment comprises about 4.8% of Pertento Partners LLP’s investment portfolio, making the stock its 6th biggest position. Pertento Partners LLP owned 0.12% of Flutter Entertainment worth $56,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after buying an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment during the 4th quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new position in Flutter Entertainment in the 4th quarter worth $26,000. BOCHK Asset Management Ltd bought a new stake in Flutter Entertainment in the fourth quarter worth $26,000. Finally, IFP Advisors Inc lifted its stake in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after purchasing an additional 83 shares during the last quarter.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’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 transaction of $6,556,072.92. Following the completion of the sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the company’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 directly owns 62,941 shares in the company, valued at $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.

Flutter Entertainment Trading Down 3.8 %

NYSE:FLUT opened at $228.35 on Friday. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company’s 50-day simple moving average is $261.17 and its 200 day simple moving average is $253.67. The firm has a market capitalization of $40.53 billion and a P/E ratio of 1,037.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JMP Securities lifted their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th. Truist Financial initiated coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective for the company. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a report on Monday, February 3rd. UBS Group upped their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Macquarie restated an “outperform” rating and issued a $340.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and a consensus price target of $311.41.

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.