Assetmark Inc. Raises Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Assetmark Inc. increased its stake in Flutter Entertainment plc (NYSE:FLUT) by 8.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,813 shares of the company’s stock after acquiring an additional 1,136 shares during the quarter. Assetmark Inc.’s holdings in Flutter Entertainment were worth $3,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. Massachusetts Financial Services Co. MA purchased a new stake in Flutter Entertainment in the 3rd quarter worth $849,474,000. Bank of Montreal Can increased its holdings in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after acquiring an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Flutter Entertainment during the third quarter worth $436,599,000. Finally, State Street Corp grew its holdings in shares of Flutter Entertainment by 61,014.6% during the third quarter. State Street Corp now owns 1,011,447 shares of the company’s stock worth $239,996,000 after buying an additional 1,009,792 shares in the last quarter.

Flutter Entertainment Trading Down 3.6 %

NYSE FLUT opened at $248.02 on Friday. The firm’s 50-day moving average is $267.23 and its two-hundred day moving average is $251.35. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $44.02 billion and a P/E ratio of 1,127.38.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of research reports. Benchmark upped their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They set a “buy” rating and a $320.00 target price for the company. UBS Group upped their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. Susquehanna dropped their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a report on Friday, November 22nd. They set a “buy” rating and a $320.00 target price for the company. Eighteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock 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.