Pertento Partners LLP Raises Position in Flutter Entertainment plc (NYSE:FLUT)

Pertento Partners LLP increased its stake in Flutter Entertainment plc (NYSE:FLUT) by 64.3% during the 4th quarter, HoldingsChannel reports. The firm owned 217,771 shares of the company’s stock after buying an additional 85,207 shares during the period. Flutter Entertainment comprises 4.8% of Pertento Partners LLP’s holdings, making the stock its 6th largest position. Pertento Partners LLP’s holdings in Flutter Entertainment were worth $56,283,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Flutter Entertainment during the fourth quarter valued at approximately $946,681,000. Geode Capital Management LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $436,599,000. State Street Corp increased its stake in shares of Flutter Entertainment by 61,014.6% in the 3rd quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after purchasing an additional 1,009,792 shares in the last quarter. Jennison Associates LLC purchased a new position in Flutter Entertainment during the fourth quarter valued at $239,306,000. Finally, William Blair Investment Management LLC purchased a new position in Flutter Entertainment during the fourth quarter valued at $137,958,000.

Analyst Upgrades and Downgrades

FLUT has been the topic of several recent research reports. Needham & Company LLC raised their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. JMP Securities increased their target price on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th. BTIG Research set a $323.00 price target on shares of Flutter Entertainment in a report on Monday, February 3rd. Barclays raised their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and a consensus target price of $311.41.

Insider Activity

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was 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 approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $228.35 on Friday. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The company has a market cap of $40.53 billion and a price-to-earnings ratio of 1,037.97. The firm’s fifty day moving average is $261.17 and its 200 day moving average is $253.67. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

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.