Primecap Management Co. CA Sells 17,601 Shares of Flutter Entertainment PLC $FLUT

Primecap Management Co. CA lowered its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,699,488 shares of the company’s stock after selling 17,601 shares during the period. Primecap Management Co. CA owned about 0.97% of Flutter Entertainment worth $431,670,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FLUT. JFS Wealth Advisors LLC acquired a new position in Flutter Entertainment in the third quarter valued at about $27,000. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at about $32,000. Atlantic Union Bankshares Corp acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $34,000. ORG Partners LLC increased its stake 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 in the last quarter. Finally, First Horizon Corp acquired a new stake in Flutter Entertainment during the 3rd quarter worth approximately $39,000.

Flutter Entertainment Trading Up 1.2%

Shares of NYSE:FLUT opened at $119.78 on Thursday. The company’s 50-day moving average price is $178.58 and its two-hundred day moving average price is $225.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. Flutter Entertainment PLC has a one year low of $114.74 and a one year high of $313.68. The stock has a market capitalization of $20.99 billion, a PE ratio of -92.14, a price-to-earnings-growth ratio of 0.24 and a beta of 1.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLUT. Oppenheimer set a $280.00 price target on shares of Flutter Entertainment in a report on Thursday, January 29th. UBS Group dropped their price objective on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Finally, Bank of America dropped their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.10.

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.