Lake Street Advisors Group LLC Trims Stake in Flutter Entertainment plc (NYSE:FLUT)

Lake Street Advisors Group LLC lowered its stake in Flutter Entertainment plc (NYSE:FLUT) by 51.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 867 shares of the company’s stock after selling 907 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Flutter Entertainment were worth $224,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Canton Hathaway LLC lifted its stake in Flutter Entertainment by 39.6% in the 4th quarter. Canton Hathaway LLC now owns 1,410 shares of the company’s stock valued at $364,000 after buying an additional 400 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Flutter Entertainment during the 4th quarter worth $12,276,000. Bank of New York Mellon Corp lifted its stake in shares of Flutter Entertainment by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock worth $51,642,000 after purchasing an additional 81,101 shares during the period. IFP Advisors Inc lifted its stake in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after purchasing an additional 83 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Flutter Entertainment during the 4th quarter worth $3,304,000.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $280.69 on Friday. The business’s 50-day moving average is $267.06 and its two-hundred day moving average is $249.00. 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 12 month low of $174.03 and a 12 month high of $299.73.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLUT. Barclays increased their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities increased their price target on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday, January 6th. Oppenheimer increased their price target on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Susquehanna reduced their price target on Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, UBS Group increased their target price on Flutter Entertainment from $320.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Eighteen 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 presently has an average rating of “Buy” and a consensus target price of $307.88.

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.