Primecap Management Co. CA Sells 17,601 Shares of Flutter Entertainment PLC $FLUT

Primecap Management Co. CA decreased its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,699,488 shares of the company’s stock after selling 17,601 shares during the quarter. Primecap Management Co. CA’s holdings in Flutter Entertainment were worth $431,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLUT. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $27,000. JCIC Asset Management Inc. bought a new stake in Flutter Entertainment during the third quarter worth $32,000. Atlantic Union Bankshares Corp acquired a new stake in Flutter Entertainment in the third quarter valued at $34,000. ORG Partners LLC grew its position in shares of Flutter Entertainment by 43.0% in 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 period. Finally, Allworth Financial LP increased its stake in shares of Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after purchasing an additional 78 shares during the last quarter.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $119.78 on Thursday. The stock has a market cap of $20.99 billion, a P/E ratio of -92.14, a PEG ratio of 0.24 and a beta of 1.88. The stock has a 50 day simple moving average of $178.58 and a 200 day simple moving average of $225.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 1-year low of $114.74 and a 1-year high of $313.68.

Analysts Set New Price Targets

FLUT has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Stifel Nicolaus cut their price objective on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Truist Financial set a $260.00 target price on Flutter Entertainment in a research note on Tuesday, January 13th. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average target price of $269.10.

Flutter Entertainment Company 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.