Franklin Resources Inc. Has $12.79 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Franklin Resources Inc. grew its position in Flutter Entertainment plc (NYSE:FLUT) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,316 shares of the company’s stock after acquiring an additional 2,304 shares during the period. Franklin Resources Inc.’s holdings in Flutter Entertainment were worth $12,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Flutter Entertainment in the 4th quarter valued at $25,000. Farther Finance Advisors LLC raised its holdings in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Flutter Entertainment during the 4th quarter worth about $26,000. BOCHK Asset Management Ltd bought a new stake in Flutter Entertainment during the 4th quarter worth about $26,000. Finally, IFP Advisors Inc increased its position in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after acquiring an additional 83 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLUT. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a research report on Monday, February 3rd. UBS Group upped their price objective on Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. JMP Securities lifted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Stifel Nicolaus initiated coverage on Flutter Entertainment in a research note on Friday, January 17th. They set a “buy” rating and a $320.00 price target on the stock. Finally, Truist Financial began coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective for the company. Nineteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus target price of $311.41.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred 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 transaction, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $213.31 on Tuesday. The company has a quick ratio of 0.89, a current 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 $299.73. The firm has a fifty day moving average of $255.44 and a 200-day moving average of $253.83. The firm has a market capitalization of $37.86 billion and a price-to-earnings ratio of 969.59.

Flutter Entertainment Company 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.