Picton Mahoney Asset Management Has $9.71 Million Position in Flutter Entertainment plc (NYSE:FLUT)

Picton Mahoney Asset Management lifted its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 35.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,581 shares of the company’s stock after acquiring an additional 9,880 shares during the period. Picton Mahoney Asset Management’s holdings in Flutter Entertainment were worth $9,712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FLUT. Farther Finance Advisors LLC lifted its position in shares of Flutter Entertainment by 585.7% during 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 period. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment during the 4th quarter valued at $26,000. BOCHK Asset Management Ltd acquired a new position in shares of Flutter Entertainment during the 4th quarter valued at $26,000. IFP Advisors Inc raised its holdings in Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after buying an additional 83 shares during the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after buying an additional 50 shares during the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $237.19 on Friday. The firm has a market cap of $42.09 billion and a P/E ratio of 1,078.13. The firm has a 50-day moving average of $264.74 and a 200 day moving average of $251.84. 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FLUT shares. 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 objective on the stock. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a report on Monday, February 3rd. Needham & Company LLC upped their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Susquehanna lowered their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a report on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. Nineteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $311.41.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

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.