Raleigh Capital Management Inc. Buys Shares of 100 Flutter Entertainment plc (NYSE:FLUT)

Raleigh Capital Management Inc. bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 100 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atomi Financial Group Inc. increased its position in Flutter Entertainment by 31.1% during the 4th quarter. Atomi Financial Group Inc. now owns 1,399 shares of the company’s stock valued at $362,000 after purchasing an additional 332 shares during the period. Harbor Investment Advisory LLC grew its position in shares of Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after buying an additional 50 shares during the period. UMB Bank n.a. grew its position in shares of Flutter Entertainment by 58.8% during the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the period. Artemis Investment Management LLP grew its position in shares of Flutter Entertainment by 9.2% during the 4th quarter. Artemis Investment Management LLP now owns 536,716 shares of the company’s stock worth $139,004,000 after buying an additional 45,087 shares during the period. Finally, Clarius Group LLC acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $212,000.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $267.27 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s fifty day simple moving average is $266.52 and its two-hundred day simple moving average is $235.38. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $284.79.

Analyst Upgrades and Downgrades

FLUT has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price objective for the company. Susquehanna reduced their price objective on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Craig Hallum raised their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, January 8th. Seventeen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $304.44.

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.