Peregrine Capital Management LLC Invests $32.33 Million in Flutter Entertainment plc (NYSE:FLUT)

Peregrine Capital Management LLC purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 125,090 shares of the company’s stock, valued at approximately $32,330,000. Flutter Entertainment comprises approximately 1.0% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Peregrine Capital Management LLC owned about 0.07% of Flutter Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of FLUT. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd bought a new stake in Flutter Entertainment during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC raised its holdings 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 purchasing an additional 50 shares during the period. UMB Bank n.a. boosted its holdings in shares of Flutter Entertainment by 58.8% in the 4th 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 period. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $39,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Benchmark upped their target price on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer raised their target price on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lowered their price target on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. 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, Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Seventeen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and a consensus price target of $305.38.

Flutter Entertainment Price Performance

Shares of FLUT opened at $298.88 on Tuesday. Flutter Entertainment plc has a one year low of $174.03 and a one year high of $299.73. The business’s 50 day simple moving average is $265.51 and its 200-day simple moving average is $243.32. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

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.