Federated Hermes Inc. Makes New Investment in Flutter Entertainment PLC $FLUT

Federated Hermes Inc. purchased a new stake in Flutter Entertainment PLC (NYSE:FLUT) during the 3rd quarter, Holdings Channel reports. The firm purchased 668,414 shares of the company’s stock, valued at approximately $169,777,000.

A number of other hedge funds have also modified their holdings of the business. Cambiar Investors LLC lifted its stake in Flutter Entertainment by 13.2% in the 3rd quarter. Cambiar Investors LLC now owns 304,962 shares of the company’s stock valued at $77,460,000 after buying an additional 35,578 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Flutter Entertainment by 18.3% in the third quarter. Truist Financial Corp now owns 2,530 shares of the company’s stock worth $643,000 after acquiring an additional 391 shares during the last quarter. Stablepoint Partners LLC purchased a new stake in shares of Flutter Entertainment in the third quarter valued at $989,000. Belpointe Asset Management LLC lifted its position in shares of Flutter Entertainment by 35.1% in the third quarter. Belpointe Asset Management LLC now owns 4,676 shares of the company’s stock valued at $1,188,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Fortis Capital Advisors LLC boosted its stake in shares of Flutter Entertainment by 48.9% during the third quarter. Fortis Capital Advisors LLC now owns 3,463 shares of the company’s stock valued at $880,000 after acquiring an additional 1,137 shares during the last quarter.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $168.19 on Wednesday. Flutter Entertainment PLC has a 1 year low of $167.23 and a 1 year high of $313.68. 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 firm has a 50 day moving average price of $206.70 and a 200 day moving average price of $248.98. The company has a market cap of $29.47 billion, a price-to-earnings ratio of -129.37 and a beta of 1.88.

Wall Street Analyst Weigh In

FLUT has been the subject of several analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $228.00 target price (down previously from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Texas Capital upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. UBS Group reduced their price objective on shares of Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research report on Wednesday, January 21st. Finally, Sanford C. Bernstein lowered their target price on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating for the company in a research note on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average target price of $283.24.

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.