Bank of New York Mellon Corp Cuts Stock Holdings in Flutter Entertainment PLC $FLUT

Bank of New York Mellon Corp reduced its position in Flutter Entertainment PLC (NYSE:FLUT) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 443,808 shares of the company’s stock after selling 10,852 shares during the quarter. Bank of New York Mellon Corp’s holdings in Flutter Entertainment were worth $112,727,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. JCIC Asset Management Inc. purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $32,000. ORG Partners LLC grew its position in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the last quarter. Signaturefd LLC increased its stake in Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the period. First Horizon Corp acquired a new position in Flutter Entertainment in the 3rd quarter valued at about $39,000. Finally, Allworth Financial LP lifted its position in 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 acquiring an additional 78 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FLUT shares. BTIG Research decreased their price target on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Hsbc Global Res upgraded shares of Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Canaccord Genuity Group dropped their price target on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their target price for the company from $265.00 to $228.00 in a research note on Monday, November 24th. Finally, Morgan Stanley lowered their target price on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.48.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $165.01 on Monday. The firm has a 50 day simple moving average of $205.13 and a 200 day simple moving average of $246.27. Flutter Entertainment PLC has a fifty-two week low of $160.72 and a fifty-two week high of $313.68. 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 cap of $28.91 billion, a P/E ratio of -126.93 and a beta of 1.89.

About Flutter Entertainment

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.