William Blair Investment Management LLC Cuts Position in Flutter Entertainment PLC $FLUT

William Blair Investment Management LLC lessened its stake in Flutter Entertainment PLC (NYSE:FLUT) by 54.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,612 shares of the company’s stock after selling 362,786 shares during the quarter. William Blair Investment Management LLC’s holdings in Flutter Entertainment were worth $78,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in shares of Flutter Entertainment by 43.0% in 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. MML Investors Services LLC boosted its holdings in shares of Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after buying an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after acquiring an additional 49 shares during the last quarter. Versant Capital Management Inc lifted its position in Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after purchasing an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Flutter Entertainment by 5.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after acquiring an additional 58 shares during the period.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of analyst reports. Benchmark cut their price target on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a research note on Friday. Oppenheimer decreased their price target on shares of Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday. Susquehanna reaffirmed a “positive” rating and issued a $228.00 price target on shares of Flutter Entertainment in a report on Tuesday, January 27th. UBS Group dropped their price target on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Finally, Needham & Company LLC decreased their price objective on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.15.

Flutter Entertainment Stock Down 13.7%

Shares of NYSE FLUT opened at $106.24 on Monday. Flutter Entertainment PLC has a 1 year low of $99.96 and a 1 year high of $313.68. The firm has a 50-day simple moving average of $174.32 and a two-hundred day simple moving average of $222.85. The company has a market cap of $18.62 billion, a P/E ratio of -59.02, a PEG ratio of 0.22 and a beta of 2.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the company posted $2.94 earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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.