Phoenix Financial Ltd. Trims Stock Position in Flutter Entertainment PLC $FLUT

Phoenix Financial Ltd. lowered its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 40.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,739 shares of the company’s stock after selling 3,881 shares during the quarter. Phoenix Financial Ltd.’s holdings in Flutter Entertainment were worth $1,458,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in Flutter Entertainment by 120.1% in the second quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock valued at $129,924,000 after buying an additional 248,109 shares during the period. Parvus Asset Management Jersey Ltd acquired a new position in Flutter Entertainment during the 2nd quarter worth approximately $2,231,266,000. Massachusetts Financial Services Co. MA boosted its holdings in Flutter Entertainment by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,864,681 shares of the company’s stock worth $727,629,000 after acquiring an additional 68,186 shares during the period. Gunderson Capital Management Inc. raised its stake in shares of Flutter Entertainment by 17.8% during 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. Finally, Corton Capital Inc. purchased a new position in shares of Flutter Entertainment in the second quarter valued at $556,000.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $168.19 on Wednesday. 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 capitalization 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. The business’s fifty day moving average price is $206.70 and its two-hundred day moving average price is $248.98.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FLUT shares. Sanford C. Bernstein decreased their price target on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Citizens Jmp dropped their target price on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating for the company in a research report on Thursday, January 22nd. Hsbc Global Res raised shares of Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Craig Hallum lowered Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 21st. Finally, Truist Financial set a $260.00 price objective on Flutter Entertainment in a research note on Tuesday, January 13th. Three 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.24.

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.