Capital Fund Management S.A. Decreases Stake in Flutter Entertainment PLC $FLUT

Capital Fund Management S.A. cut its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 70.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 28,692 shares of the company’s stock after selling 68,450 shares during the quarter. Capital Fund Management S.A.’s holdings in Flutter Entertainment were worth $8,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of FLUT. ORG Partners LLC raised its position in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Barrett & Company Inc. purchased a new position in Flutter Entertainment in the 2nd quarter valued at approximately $29,000. SVB Wealth LLC bought a new stake in Flutter Entertainment during the 1st quarter valued at $27,000. Signaturefd LLC boosted its stake in Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the period. Finally, Allworth Financial LP boosted its stake in Flutter Entertainment by 116.4% in 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 period.

Flutter Entertainment Trading Up 4.0%

Shares of Flutter Entertainment stock opened at $208.00 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a 1 year low of $189.33 and a 1 year high of $313.68. The firm has a market cap of $36.46 billion, a PE ratio of 102.46 and a beta of 1.84. The company has a 50 day simple moving average of $235.52 and a two-hundred day simple moving average of $265.24.

Flutter Entertainment declared that its board has approved a share buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLUT. Barclays decreased their price target on Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. JMP Securities reduced their price objective on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 1st. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. Hsbc Global Res raised shares of Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Finally, Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.84.

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.