Flutter Entertainment PLC $FLUT Stake Raised by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 503.6% during the second quarter, Holdings Channel reports. The institutional investor owned 371,883 shares of the company’s stock after acquiring an additional 310,276 shares during the period. Flutter Entertainment makes up about 0.4% of Hudson Bay Capital Management LP’s holdings, making the stock its 13th largest position. Hudson Bay Capital Management LP’s holdings in Flutter Entertainment were worth $106,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC bought a new position in Flutter Entertainment during the first quarter valued at about $27,000. ORG Partners LLC grew its stake in shares of Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. acquired a new position in Flutter Entertainment in the second quarter worth approximately $29,000. Signaturefd LLC lifted its position in shares of Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after acquiring an additional 64 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Flutter Entertainment by 116.4% in the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after purchasing an additional 78 shares during the period.

Flutter Entertainment Trading Up 1.1%

Flutter Entertainment stock opened at $222.60 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50-day simple moving average is $224.11 and its 200-day simple moving average is $262.83. The firm has a market capitalization of $39.00 billion, a PE ratio of -171.23 and a beta of 1.92. Flutter Entertainment PLC has a 52 week low of $189.33 and a 52 week high of $313.68.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company initiated coverage on Flutter Entertainment in a report on Tuesday, November 18th. They set an “overweight” rating and a $272.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and cut their target price for the company from $265.00 to $228.00 in a research note on Monday, November 24th. Citizens Jmp dropped their price target on Flutter Entertainment from $345.00 to $311.00 and set a “market outperform” rating on the stock in a research report on Thursday. Finally, Truist Financial decreased their price objective on Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.60.

About Flutter Entertainment

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.