Bank of New York Mellon Corp Sells 10,852 Shares of Flutter Entertainment PLC $FLUT

Bank of New York Mellon Corp cut its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 443,808 shares of the company’s stock after selling 10,852 shares during the period. Bank of New York Mellon Corp owned approximately 0.25% of Flutter Entertainment worth $112,727,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FLUT. ORG Partners LLC raised its holdings in shares of Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. MML Investors Services LLC boosted its position in 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 purchasing an additional 45 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after purchasing an additional 50 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Flutter Entertainment by 1.3% in the second quarter. Hohimer Wealth Management LLC now owns 4,567 shares of the company’s stock worth $1,305,000 after buying an additional 60 shares during the period. Finally, Signaturefd LLC lifted its position in Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after buying an additional 64 shares during the last quarter.

Flutter Entertainment Trading Down 2.2%

Shares of NYSE:FLUT opened at $165.01 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 52-week low of $160.72 and a 52-week high of $313.68. The stock has a market cap of $28.91 billion, a price-to-earnings ratio of -126.93 and a beta of 1.89. The business has a 50-day moving average price of $205.13 and a 200-day moving average price of $246.27.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. UBS Group reduced their price objective on shares of Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Susquehanna reiterated a “positive” rating and issued a $228.00 price target on shares of Flutter Entertainment in a research note on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and an average target price of $277.48.

Flutter Entertainment 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.