Jennison Associates LLC Makes New $239.31 Million Investment in Flutter Entertainment plc (NYSE:FLUT)

Jennison Associates LLC acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 925,927 shares of the company’s stock, valued at approximately $239,306,000. Jennison Associates LLC owned 0.52% of Flutter Entertainment at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLUT. Vestcor Inc acquired a new stake in Flutter Entertainment in the 3rd quarter valued at approximately $815,000. Benson Investment Management Company Inc. bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $5,116,000. Sanctuary Advisors LLC bought a new stake in shares of Flutter Entertainment in the third quarter valued at about $802,000. Raymond James & Associates lifted its position in shares of Flutter Entertainment by 10.0% in the 3rd quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock worth $4,354,000 after acquiring an additional 1,663 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $436,599,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FLUT. Stifel Nicolaus assumed coverage on shares of Flutter Entertainment in a research note on Friday, January 17th. They set a “buy” rating and a $320.00 price target on the stock. Barclays upped their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price target on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Susquehanna lowered their price objective 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, Macquarie initiated coverage on Flutter Entertainment in a research report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price for the company. Seventeen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $305.38.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $266.93 on Monday. The business’s 50-day simple moving average is $266.52 and its 200 day simple moving average is $237.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 12-month low of $174.03 and a 12-month high of $284.79.

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.