Pertento Partners LLP Grows Stock Holdings in Flutter Entertainment PLC $FLUT

Pertento Partners LLP lifted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,434 shares of the company’s stock after buying an additional 3,663 shares during the period. Flutter Entertainment comprises approximately 5.7% of Pertento Partners LLP’s holdings, making the stock its 4th largest holding. Pertento Partners LLP’s holdings in Flutter Entertainment were worth $63,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its position in 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 purchasing an additional 248,109 shares during the last quarter. Gunderson Capital Management Inc. increased its stake 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 buying an additional 2,364 shares during the period. Corton Capital Inc. bought a new stake in shares of Flutter Entertainment during the second quarter worth $556,000. Fortis Capital Advisors LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at $665,000. Finally, Cigna Investments Inc. New bought a new position in Flutter Entertainment in the second quarter valued at about $491,000.

Flutter Entertainment Stock Up 1.6%

Flutter Entertainment stock opened at $211.43 on Thursday. The company has a 50 day moving average of $230.99 and a 200-day moving average of $264.30. The stock has a market capitalization of $37.06 billion, a PE ratio of -162.64 and a beta of 1.92. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a twelve month low of $189.33 and a twelve month high of $313.68.

Flutter Entertainment declared that its board has authorized a share repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America reissued a “neutral” rating and set a $250.00 price objective (down from $325.00) on shares of Flutter Entertainment in a report on Tuesday, November 4th. Truist Financial dropped their price target on shares of Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Citizens Jmp increased their price objective on shares of Flutter Entertainment from $340.00 to $345.00 and gave the company a “market outperform” rating in a report on Thursday, November 13th. Sanford C. Bernstein dropped their target price on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Finally, JMP Securities reduced their price target on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $309.53.

Flutter Entertainment 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.