DCF Advisers LLC Lowers Holdings in Flutter Entertainment plc (NYSE:FLUT)

DCF Advisers LLC trimmed its holdings in Flutter Entertainment plc (NYSE:FLUT) by 40.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,500 shares of the company’s stock after selling 1,000 shares during the quarter. DCF Advisers LLC’s holdings in Flutter Entertainment were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FLUT. Massachusetts Financial Services Co. MA acquired a new position in shares of Flutter Entertainment in the third quarter worth about $849,474,000. FMR LLC raised its position in shares of Flutter Entertainment by 13.2% in the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock worth $794,362,000 after acquiring an additional 393,122 shares during the period. Bank of Montreal Can raised its position in shares of Flutter Entertainment by 868.5% in 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 period. Cantillon Capital Management LLC raised its position in shares of Flutter Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,410,178 shares of the company’s stock worth $622,911,000 after acquiring an additional 12,794 shares during the period. Finally, Egerton Capital UK LLP raised its position in shares of Flutter Entertainment by 3.4% in the fourth quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock worth $485,210,000 after acquiring an additional 61,833 shares during the period.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $240.70 on Friday. The firm has a 50 day simple moving average of $263.47 and a 200-day simple moving average of $252.65. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $42.72 billion and a price-to-earnings ratio of 1,094.07.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial started coverage on shares of Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective for the company. Needham & Company LLC upped their price target on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Finally, Susquehanna reduced their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, March 5th. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $311.41.

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

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.