Sands Capital Management LLC Has $606.28 Million Stock Position in Flutter Entertainment PLC $FLUT

Sands Capital Management LLC trimmed its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,121,637 shares of the company’s stock after selling 73,634 shares during the quarter. Flutter Entertainment comprises 1.7% of Sands Capital Management LLC’s portfolio, making the stock its 21st biggest holding. Sands Capital Management LLC owned 1.20% of Flutter Entertainment worth $606,279,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. PARUS FINANCE UK Ltd boosted its stake in shares of Flutter Entertainment by 1.5% during the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after acquiring an additional 50 shares in the last quarter. Parallel Advisors LLC boosted its position in Flutter Entertainment by 44.9% during the second quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock worth $56,000 after purchasing an additional 61 shares during the period. Signaturefd LLC boosted its position in Flutter Entertainment by 98.5% during the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the period. Finally, 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.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $208.19 on Wednesday. The firm’s 50-day moving average is $232.36 and its 200-day moving average is $264.67. The company has a market cap of $36.49 billion, a price-to-earnings ratio of -160.14 and a beta of 1.92. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. Flutter Entertainment PLC has a 52-week low of $189.33 and a 52-week high of $313.68.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FLUT shares. Sanford C. Bernstein lowered their target price on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Stifel Nicolaus lowered their price target on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Needham & Company LLC cut their price objective on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Macquarie increased their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $309.53.

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.