Helios Capital Management PTE. Ltd. Boosts Stake in Flutter Entertainment PLC $FLUT

Helios Capital Management PTE. Ltd. increased its stake in Flutter Entertainment PLC (NYSE:FLUT) by 22.1% during the third quarter, Holdings Channel.com reports. The firm owned 16,600 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Flutter Entertainment accounts for approximately 2.9% of Helios Capital Management PTE. Ltd.’s holdings, making the stock its 16th largest position. Helios Capital Management PTE. Ltd.’s holdings in Flutter Entertainment were worth $4,216,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FLUT. Bank of New York Mellon Corp increased its stake in Flutter Entertainment by 120.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after acquiring an additional 248,109 shares during the last quarter. Parvus Asset Management Jersey Ltd bought a new position in shares of Flutter Entertainment during the 2nd quarter valued at approximately $2,231,266,000. Gunderson Capital Management Inc. boosted its position in shares of Flutter Entertainment by 17.8% during the 2nd quarter. Gunderson Capital Management Inc. now owns 15,646 shares of the company’s stock valued at $4,471,000 after acquiring an additional 2,364 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Flutter Entertainment in the second quarter valued at $556,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth about $665,000.

Flutter Entertainment Trading Down 0.9%

FLUT stock opened at $215.40 on Monday. Flutter Entertainment PLC has a 12 month low of $189.33 and a 12 month high of $313.68. The firm’s 50-day moving average is $213.44 and its 200 day moving average is $257.00. The company has a market capitalization of $37.74 billion, a PE ratio of -165.69 and a beta of 1.88. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Analysts Set New Price Targets

Several analysts recently weighed in on FLUT shares. Morgan Stanley decreased their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. Needham & Company LLC dropped their price target on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Stifel Nicolaus cut their price target on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, JMP Securities reduced their price objective on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.55.

About Flutter Entertainment

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.