Ardmore Road Asset Management LP Raises Position in Flutter Entertainment plc (NYSE:FLUT)

Ardmore Road Asset Management LP increased its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 191.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,594 shares of the company’s stock after buying an additional 124,594 shares during the quarter. Flutter Entertainment accounts for about 7.1% of Ardmore Road Asset Management LP’s holdings, making the stock its 2nd biggest holding. Ardmore Road Asset Management LP’s holdings in Flutter Entertainment were worth $49,001,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FLUT. Norges Bank bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $946,681,000. Geode Capital Management LLC bought a new stake in Flutter Entertainment during the 3rd quarter worth $436,599,000. State Street Corp increased its holdings in 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 bought a new position in Flutter Entertainment in the fourth quarter valued at about $239,306,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Flutter Entertainment during the fourth quarter worth about $137,958,000.

Insider Transactions at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value 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. This trade represents a 54.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at $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 Stock Up 0.5 %

FLUT stock opened at $222.62 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The stock’s 50 day simple moving average is $259.40 and its 200 day simple moving average is $254.17. The company has a market cap of $39.51 billion and a P/E ratio of 1,011.91.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of research reports. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They set a “buy” rating and a $320.00 price target on the stock. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Susquehanna cut their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Nineteen investment 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, the company has a consensus rating of “Buy” and a consensus target price of $311.41.

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.