Sequoia Financial Advisors LLC Cuts Stake in Flutter Entertainment plc (NYSE:FLUT)

Sequoia Financial Advisors LLC lessened its holdings in Flutter Entertainment plc (NYSE:FLUT) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,783 shares of the company’s stock after selling 74 shares during the period. Sequoia Financial Advisors LLC’s holdings in Flutter Entertainment were worth $461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLUT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Flutter Entertainment by 182.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,983 shares of the company’s stock valued at $24,907,000 after acquiring an additional 62,010 shares in the last quarter. Argentarii LLC acquired a new stake in Flutter Entertainment in the 4th quarter valued at about $295,000. Chung Wu Investment Group LLC purchased a new position in shares of Flutter Entertainment in the 4th quarter valued at about $323,000. Raymond James Financial Inc. acquired a new position in shares of Flutter Entertainment during the fourth quarter worth about $8,006,000. Finally, Arizona State Retirement System purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $13,349,000.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 of the company’s stock, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was 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 owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Flutter Entertainment Trading Down 2.2 %

Shares of Flutter Entertainment stock opened at $234.10 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $41.55 billion and a P/E ratio of 1,064.09. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The company’s fifty day moving average is $264.05 and its two-hundred day moving average is $252.81.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Macquarie reissued an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Benchmark raised their price target on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Barclays upped their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, BTIG Research set a $323.00 target price on Flutter Entertainment in a research note on Monday, February 3rd. Nineteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and an average price target of $311.41.

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.