Inlet Private Wealth LLC Has $5.43 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Inlet Private Wealth LLC lowered its holdings in Flutter Entertainment plc (NYSE:FLUT) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,910 shares of the company’s stock after selling 1,932 shares during the quarter. Flutter Entertainment comprises about 1.4% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 24th largest position. Inlet Private Wealth LLC’s holdings in Flutter Entertainment were worth $5,426,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its position in shares of Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the last quarter. UMB Bank n.a. grew its position in shares of Flutter Entertainment by 58.8% during the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the period. Ritholtz Wealth Management increased its stake in Flutter Entertainment by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares in the last quarter. US Bancorp DE raised its stake in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the period. Finally, Raleigh Capital Management Inc. bought a new position in Flutter Entertainment during the fourth quarter worth about $26,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FLUT. BTIG Research lifted their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 11th. Craig Hallum lifted their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Susquehanna reduced their target price on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group began coverage on Flutter Entertainment in a research note on Friday, November 22nd. They issued a “buy” rating and a $320.00 price target on the stock. Seventeen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $305.38.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $266.93 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day moving average price is $266.69 and its two-hundred day moving average price is $237.20. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve 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.