Pictet Asset Management Holding SA Acquires 1,667 Shares of Flutter Entertainment plc (NYSE:FLUT)

Pictet Asset Management Holding SA lifted its holdings in Flutter Entertainment plc (NYSE:FLUT) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,321 shares of the company’s stock after acquiring an additional 1,667 shares during the period. Pictet Asset Management Holding SA’s holdings in Flutter Entertainment were worth $14,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLUT. Vanguard Group Inc. lifted its stake in shares of Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after purchasing an additional 299,300 shares during the last quarter. Norges Bank bought a new stake in Flutter Entertainment in the fourth quarter worth $946,681,000. Cantillon Capital Management LLC lifted its position in Flutter Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company’s stock worth $622,911,000 after buying an additional 12,794 shares during the last quarter. Egerton Capital UK LLP boosted its stake in Flutter Entertainment by 3.4% during the fourth quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock worth $485,210,000 after buying an additional 61,833 shares during the period. Finally, Geode Capital Management LLC bought a new position in Flutter Entertainment during the third quarter valued at $436,599,000.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $222.62 on Wednesday. The company’s 50 day moving average is $259.40 and its 200 day moving average is $254.17. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a market cap of $39.51 billion and a price-to-earnings ratio of 1,011.91. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73.

Analyst Upgrades and Downgrades

FLUT has been the subject of several analyst reports. Macquarie restated an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Susquehanna cut their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. BTIG Research set a $323.00 price target on Flutter Entertainment in a research note on Monday, February 3rd. Finally, Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $311.41.

Insider Activity

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value 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 trade represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. 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.