Sumitomo Mitsui Trust Group Inc. Has $90.08 Million Stake in Flutter Entertainment PLC $FLUT

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 354,642 shares of the company’s stock after purchasing an additional 3,815 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Flutter Entertainment were worth $90,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Flutter Entertainment by 120.1% during the second quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after buying an additional 248,109 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new stake in shares of Flutter Entertainment in the second quarter worth $2,231,266,000. Gunderson Capital Management Inc. increased its holdings in Flutter Entertainment by 17.8% in the second quarter. Gunderson Capital Management Inc. now owns 15,646 shares of the company’s stock valued at $4,471,000 after purchasing an additional 2,364 shares during the period. Corton Capital Inc. bought a new stake in shares of Flutter Entertainment in the 2nd quarter valued at about $556,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Flutter Entertainment in the second quarter valued at about $665,000.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $199.98 on Thursday. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of -153.83 and a beta of 1.88. The stock’s 50 day moving average is $212.22 and its 200-day moving average is $255.62. 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 twelve month low of $189.33 and a twelve month high of $313.68.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FLUT shares. JMP Securities reduced their price objective on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 1st. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. UBS Group cut their target price on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Truist Financial set a $260.00 target price on Flutter Entertainment in a report on Tuesday. Finally, Hsbc Global Res raised Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and an average price target of $299.35.

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.