Strategy Asset Managers LLC Buys New Holdings in Flutter Entertainment PLC $FLUT

Strategy Asset Managers LLC purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,419 shares of the company’s stock, valued at approximately $868,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Flutter Entertainment by 402.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after acquiring an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment during the second quarter worth about $2,231,266,000. Norges Bank bought a new position in Flutter Entertainment during the second quarter worth about $930,349,000. State Street Corp boosted its holdings in Flutter Entertainment by 120.3% during the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after purchasing an additional 1,685,556 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Flutter Entertainment by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after purchasing an additional 1,122,892 shares during the period.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $165.01 on Monday. The firm has a 50 day simple moving average of $205.13 and a 200 day simple moving average of $246.27. Flutter Entertainment PLC has a fifty-two week low of $160.72 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $28.91 billion, a P/E ratio of -126.93 and a beta of 1.89.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FLUT. Morgan Stanley decreased their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Sanford C. Bernstein reduced their target price on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Truist Financial set a $260.00 target price on shares of Flutter Entertainment in a report on Tuesday, January 13th. BTIG Research cut their price target on shares of Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Finally, Susquehanna reaffirmed a “positive” rating and set a $228.00 price objective on shares of Flutter Entertainment in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.48.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.