AustralianSuper Pty Ltd Cuts Holdings in Flutter Entertainment plc (NYSE:FLUT)

AustralianSuper Pty Ltd lowered its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 867,863 shares of the company’s stock after selling 94,347 shares during the period. Flutter Entertainment accounts for about 1.1% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 17th biggest holding. AustralianSuper Pty Ltd owned approximately 0.49% of Flutter Entertainment worth $224,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of FLUT. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment in the third quarter valued at approximately $849,474,000. Bank of Montreal Can grew its stake in shares of Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after acquiring an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC increased its holdings in shares of Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock valued at $568,851,000 after acquiring an additional 2,336,347 shares in the last quarter. Marathon Asset Management Ltd purchased a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $451,631,000. Finally, Geode Capital Management LLC purchased a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $436,599,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLUT shares. Macquarie assumed coverage on shares of Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price target on the stock. Stifel Nicolaus initiated coverage on Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 target price for the company. Oppenheimer boosted their price target on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They set a “buy” rating and a $320.00 target price for the company. Seventeen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus target price of $305.38.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $282.14 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $284.79. The company’s 50-day simple moving average is $265.09 and its 200-day simple moving average is $241.64.

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.