Federated Hermes Inc. Acquires Shares of 668,414 Flutter Entertainment PLC $FLUT

Federated Hermes Inc. bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 668,414 shares of the company’s stock, valued at approximately $169,777,000. Federated Hermes Inc. owned 0.38% of Flutter Entertainment as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FLUT. ORG Partners LLC raised its stake in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the period. Versant Capital Management Inc raised its stake in shares of Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after purchasing an additional 50 shares during the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of Flutter Entertainment by 1.3% during the second quarter. Hohimer Wealth Management LLC now owns 4,567 shares of the company’s stock worth $1,305,000 after purchasing an additional 60 shares during the period. Finally, Signaturefd LLC grew its position in Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after buying an additional 64 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Benchmark cut their target price on Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, December 1st. Truist Financial set a $260.00 price target on Flutter Entertainment in a report on Tuesday, January 13th. UBS Group dropped their price objective on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Finally, Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $283.24.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $168.19 on Wednesday. The stock has a fifty day moving average price of $206.70 and a 200 day moving average price of $248.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $29.47 billion, a PE ratio of -129.37 and a beta of 1.88. Flutter Entertainment PLC has a 1 year low of $167.23 and a 1 year high of $313.68.

Flutter Entertainment 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.