Flutter Entertainment PLC $FLUT is L1 Capital Pty Ltd’s 8th Largest Position

L1 Capital Pty Ltd trimmed its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 481,009 shares of the company’s stock after selling 13,594 shares during the quarter. Flutter Entertainment comprises about 6.4% of L1 Capital Pty Ltd’s holdings, making the stock its 8th biggest holding. L1 Capital Pty Ltd’s holdings in Flutter Entertainment were worth $136,332,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $27,000. ORG Partners LLC lifted its position in Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. Barrett & Company Inc. bought a new position in Flutter Entertainment in the 2nd quarter valued at approximately $29,000. Signaturefd LLC boosted its stake in Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Flutter Entertainment by 116.4% in the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after purchasing an additional 78 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their price target for the company from $265.00 to $228.00 in a report on Monday, November 24th. Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Bank of America reiterated a “neutral” rating and issued a $250.00 price target (down from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Sanford C. Bernstein restated a “market perform” rating on shares of Flutter Entertainment in a research report on Thursday. Finally, Truist Financial dropped their target price on shares of Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $304.60.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $222.60 on Friday. Flutter Entertainment PLC has a 12-month low of $189.33 and a 12-month high of $313.68. The firm has a market capitalization of $39.00 billion, a price-to-earnings ratio of -171.23 and a beta of 1.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average of $224.11 and a 200 day moving average of $262.96.

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.