Brown Capital Management LLC Sells 6,659 Shares of Flutter Entertainment PLC $FLUT

Brown Capital Management LLC lowered its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 271,715 shares of the company’s stock after selling 6,659 shares during the period. Flutter Entertainment makes up 2.8% of Brown Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Brown Capital Management LLC’s holdings in Flutter Entertainment were worth $69,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLUT. Vanguard Group Inc. grew its stake in Flutter Entertainment by 402.4% in the second quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock valued at $4,931,496,000 after acquiring an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd acquired a new position in Flutter Entertainment during the second quarter worth $2,231,266,000. Norges Bank bought a new position in shares of Flutter Entertainment in the second quarter valued at $930,349,000. State Street Corp grew its holdings in shares of Flutter Entertainment by 120.3% during the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after buying an additional 1,685,556 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Flutter Entertainment by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock worth $877,583,000 after acquiring an additional 1,122,892 shares during the last quarter.

Flutter Entertainment Trading Down 1.5%

Shares of FLUT stock opened at $162.75 on Tuesday. Flutter Entertainment PLC has a 12-month low of $160.72 and a 12-month high of $313.68. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average of $204.55 and a 200-day moving average of $245.27. The firm has a market cap of $28.52 billion, a P/E ratio of -125.19 and a beta of 1.89.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FLUT. Susquehanna reissued a “positive” rating and set a $228.00 price objective on shares of Flutter Entertainment in a report on Tuesday, January 27th. Morgan Stanley cut their price objective on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. UBS Group lowered their target price on shares of Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a report on Friday, November 28th. 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. Finally, Truist Financial set a $260.00 target price on Flutter Entertainment in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.48.

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.