Lederer & Associates Investment Counsel CA Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Lederer & Associates Investment Counsel CA bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 5,843 shares of the company’s stock, valued at approximately $1,510,000.

Several other large investors have also recently modified their holdings of FLUT. Massachusetts Financial Services Co. MA bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at approximately $849,474,000. Bank of Montreal Can increased its position in shares of Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after purchasing an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC increased its position in shares of Flutter Entertainment by 3,827.8% during the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock valued at $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter. Marathon Asset Management Ltd bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at approximately $451,631,000. Finally, Geode Capital Management LLC bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at approximately $436,599,000.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $266.93 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $284.79. The business has a fifty day moving average price of $266.52 and a 200 day moving average price of $237.82.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLUT. Barclays upped their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America began coverage on Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, January 8th. JMP Securities upped their price objective on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday, January 6th. Finally, Benchmark upped their price objective on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Seventeen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $305.38.

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.