BOCHK Asset Management Ltd Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

BOCHK Asset Management Ltd purchased a new position in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Flutter Entertainment by 47.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 30,375 shares of the company’s stock worth $7,850,000 after acquiring an additional 9,724 shares during the period. R Squared Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth $75,000. KBC Group NV increased its stake in shares of Flutter Entertainment by 22.3% in the fourth quarter. KBC Group NV now owns 10,790 shares of the company’s stock worth $2,788,000 after acquiring an additional 1,970 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth $39,000. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth $26,000.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $267.20 on Wednesday. The company’s 50-day moving average price is $266.43 and its 200-day moving average price is $236.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $284.79.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FLUT shares. Barclays increased their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Flutter Entertainment in a research report on Wednesday, January 8th. UBS Group raised their price target on shares of Flutter Entertainment from $320.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum raised their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price target on the stock. Seventeen equities 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, the stock has a consensus rating of “Buy” and an average target price of $305.38.

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.