Flutter Entertainment PLC $FLUT Shares Sold by Korea Investment CORP

Korea Investment CORP cut its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,133 shares of the company’s stock after selling 11,869 shares during the quarter. Korea Investment CORP owned 0.12% of Flutter Entertainment worth $61,191,000 as of its most recent SEC filing.

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

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $200.01 on Friday. The company has a 50-day simple moving average of $237.05 and a 200-day simple moving average of $265.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $35.06 billion, a PE ratio of 98.53 and a beta of 1.84. Flutter Entertainment PLC has a 12 month low of $189.33 and a 12 month high of $313.68.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of research analyst reports. Truist Financial dropped their target price on shares of Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Needham & Company LLC dropped their price objective on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $265.00 to $228.00 in a report on Monday. Benchmark lowered their target price on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Finally, Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $311.44.

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.