Exchange Traded Concepts LLC Sells 13,144 Shares of Flutter Entertainment plc (NYSE:FLUT)

Exchange Traded Concepts LLC lessened its stake in Flutter Entertainment plc (NYSE:FLUT) by 31.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,042 shares of the company’s stock after selling 13,144 shares during the period. Exchange Traded Concepts LLC’s holdings in Flutter Entertainment were worth $7,247,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC increased its stake 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 acquiring an additional 50 shares during the period. UMB Bank n.a. raised its position in Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. US Bancorp DE lifted its stake in Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in Flutter Entertainment during the third quarter valued at approximately $82,000.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BTIG Research increased their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JMP Securities raised their price target on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Bank of America assumed coverage on Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Macquarie began coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an “outperform” rating and a $340.00 price target for the company. Finally, Susquehanna decreased their price objective on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Seventeen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $304.44.

Flutter Entertainment Stock Performance

FLUT opened at $267.27 on Friday. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $284.79. 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 company has a fifty day moving average price of $266.52 and a two-hundred day moving average price of $235.38.

Flutter Entertainment 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.