Flutter Entertainment PLC $FLUT Position Trimmed by Lone Pine Capital LLC

by · The Cerbat Gem

Lone Pine Capital LLC decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT – Free Report) by 16.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,862,764 shares of the company’s stock after selling 357,132 shares during the quarter. Flutter Entertainment accounts for 3.8% of Lone Pine Capital LLC’s holdings, making the stock its 12th largest position. Lone Pine Capital LLC’s holdings in Flutter Entertainment were worth $532,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Flutter Entertainment by 120.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after acquiring an additional 248,109 shares during the last quarter. Gunderson Capital Management Inc. boosted its position in shares of Flutter Entertainment by 17.8% in the 2nd 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. Parvus Asset Management Jersey Ltd purchased a new position in Flutter Entertainment in the 2nd quarter worth about $2,231,266,000. Corton Capital Inc. purchased a new position in Flutter Entertainment in the 2nd quarter worth about $556,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth about $665,000.

Flutter Entertainment Stock Up 1.1%

Flutter Entertainment stock opened at $222.60 on Friday. 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 $189.33 and a 1-year high of $313.68. The firm’s fifty day simple moving average is $224.11 and its 200-day simple moving average is $262.83. The company has a market capitalization of $39.00 billion, a P/E ratio of -171.23 and a beta of 1.92.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLUT shares. Canaccord Genuity Group decreased their target price on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Thursday. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday. Finally, Bank of America restated a “neutral” rating and issued a $250.00 target price (down previously from $325.00) on shares of Flutter Entertainment in a report on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.60.

Get Our Latest Research Report on FLUT

Flutter Entertainment Company Profile

(Free Report)

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.

Further Reading

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