Lake Street Advisors Group LLC Reduces Position in Flutter Entertainment plc (NYSE:FLUT)

Lake Street Advisors Group LLC trimmed its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 51.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 867 shares of the company’s stock after selling 907 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Flutter Entertainment were worth $224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FLUT. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $26,000. BOCHK Asset Management Ltd bought a new stake in Flutter Entertainment in the fourth quarter valued at about $26,000. IFP Advisors Inc increased its holdings in Flutter Entertainment by 244.1% in the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after buying an additional 83 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FLUT. Truist Financial began coverage on Flutter Entertainment in a report on Wednesday. They issued a “buy” rating and a $330.00 price objective for the company. Macquarie began coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an “outperform” rating and a $340.00 price objective for the company. UBS Group boosted their price objective on Flutter Entertainment from $320.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus began coverage on Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 target price for the company. Eighteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $307.88.

Flutter Entertainment Trading Up 3.3 %

Shares of NYSE:FLUT opened at $280.69 on Friday. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $299.73. The stock’s 50 day moving average price is $267.06 and its 200 day moving average price is $249.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

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.