William Blair Investment Management LLC Invests $137.96 Million in Flutter Entertainment plc (NYSE:FLUT)

William Blair Investment Management LLC acquired a new stake in Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, Holdings Channel reports. The firm acquired 533,788 shares of the company’s stock, valued at approximately $137,958,000.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the period. Raleigh Capital Management Inc. acquired a new position in Flutter Entertainment in the fourth quarter worth about $26,000. BOCHK Asset Management Ltd acquired a new position in Flutter Entertainment in the fourth quarter valued at approximately $26,000. IFP Advisors Inc boosted its stake in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after acquiring an additional 83 shares during the period. Finally, Harbor Investment Advisory LLC boosted its stake in Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares during the period.

Insider Activity at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FLUT shares. JMP Securities increased their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th. Needham & Company LLC increased their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group started coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price for the company. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Nineteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $311.41.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $237.19 on Monday. The company has a 50 day moving average of $264.74 and a 200-day moving average of $252.46. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market cap of $42.09 billion and a PE ratio of 1,078.13.

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.