Flutter Entertainment PLC $FLUT Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its position in Flutter Entertainment PLC (NYSE:FLUT) by 17.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 929,876 shares of the company’s stock after selling 190,361 shares during the period. Flutter Entertainment accounts for approximately 2.9% of Perpetual Ltd’s portfolio, making the stock its 5th biggest holding. Perpetual Ltd’s holdings in Flutter Entertainment were worth $236,189,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FLUT shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a report on Thursday, December 11th. BTIG Research upped their target price on Flutter Entertainment from $271.00 to $281.00 and gave the company a “buy” rating in a report on Friday, December 5th. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and cut their target price for the stock from $265.00 to $228.00 in a research note on Monday, November 24th. Stifel Nicolaus lowered their price target on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Bank of America reissued a “neutral” rating and issued a $250.00 price objective (down previously from $325.00) on shares of Flutter Entertainment in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.70.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $222.05 on Friday. The firm has a market cap of $38.90 billion, a PE ratio of -170.81 and a beta of 1.92. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 52 week low of $189.33 and a 52 week high of $313.68. The business’s fifty day simple moving average is $221.63 and its 200-day simple moving average is $261.85.

About Flutter Entertainment

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.