AdvisorShares Investments LLC Buys New Holdings in Flutter Entertainment plc (NYSE:FLUT)

AdvisorShares Investments LLC bought a new position in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,300 shares of the company's stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also modified their holdings of FLUT. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC grew its position in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment during the 4th quarter valued at $26,000. BOCHK Asset Management Ltd acquired a new stake in Flutter Entertainment during the 4th quarter valued at $26,000. Finally, IFP Advisors Inc raised its position in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after purchasing an additional 83 shares during the last quarter.

Flutter Entertainment Trading Up 0.9 %

FLUT stock traded up $2.25 during midday trading on Monday, hitting $250.93. 560,529 shares of the company's stock were exchanged, compared to its average volume of 1,823,478. The company has a market cap of $44.35 billion and a PE ratio of 1,140.58. 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 moving average price is $237.02 and its 200-day moving average price is $253.30. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the business's stock in a transaction dated 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 in the company, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several research analyst reports. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Benchmark reissued a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a report on Monday, April 21st. Citizens Jmp dropped their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. UBS Group boosted their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Stifel Nicolaus lowered their target price on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Twenty analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment has an average rating of "Buy" and an average target price of $306.67.

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.