Artisan Partners Limited Partnership Takes $98.79 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Artisan Partners Limited Partnership purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 382,222 shares of the company’s stock, valued at approximately $98,785,000.

A number of other institutional investors have also recently added to or reduced their stakes in FLUT. Harbor Investment Advisory LLC increased its position in shares of Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. UMB Bank n.a. raised its stake in Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock worth $236,000 after buying an additional 55 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock worth $446,000 after acquiring an additional 59 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares during the last quarter.

Flutter Entertainment Price Performance

Shares of FLUT opened at $236.99 on Friday. The firm has a market capitalization of $42.06 billion and a price-to-earnings ratio of 1,077.21. The stock’s fifty day moving average is $261.86 and its 200-day moving average is $253.61. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Flutter Entertainment in a research note on Friday, January 17th. They set a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company lifted their price target 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. Barclays increased their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. JMP Securities lifted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC upped their target price on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and a consensus target price 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.