Mediolanum International Funds Ltd Sells 102,353 Shares of Flutter Entertainment PLC $FLUT

Mediolanum International Funds Ltd decreased its position in Flutter Entertainment PLC (NYSE:FLUT) by 90.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,003 shares of the company’s stock after selling 102,353 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Flutter Entertainment were worth $2,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FLUT. JCIC Asset Management Inc. purchased a new position in Flutter Entertainment during the third quarter valued at $32,000. ORG Partners LLC grew its stake in 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. Signaturefd LLC increased its holdings in shares of Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the last quarter. First Horizon Corp bought a new stake in Flutter Entertainment in the 3rd quarter worth approximately $39,000. Finally, Allworth Financial LP increased its position in Flutter Entertainment by 116.4% in the second quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after purchasing an additional 78 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLUT shares. Citizens Jmp decreased their price objective on Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. BTIG Research dropped their target price on shares of Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Morgan Stanley dropped their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Finally, Susquehanna reiterated a “positive” rating and issued a $228.00 target price on shares of Flutter Entertainment in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $277.48.

Flutter Entertainment Trading Down 1.5%

Flutter Entertainment stock opened at $162.75 on Tuesday. The stock has a 50-day moving average price of $204.55 and a 200 day moving average price of $245.27. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of -125.19 and a beta of 1.89. 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.

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.