Citigroup Inc. Sells 392,888 Shares of Flutter Entertainment PLC $FLUT

Citigroup Inc. cut its stake in Flutter Entertainment PLC (NYSE:FLUT) by 48.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,110 shares of the company’s stock after selling 392,888 shares during the quarter. Citigroup Inc. owned about 0.24% of Flutter Entertainment worth $105,692,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after purchasing an additional 301,879 shares during the last quarter. Parvus Asset Management Jersey Ltd acquired a new stake in shares of Flutter Entertainment during the second quarter worth $2,231,266,000. Norges Bank purchased a new stake in shares of Flutter Entertainment during the second quarter valued at $930,349,000. State Street Corp grew its holdings in shares of Flutter Entertainment by 120.3% during the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after buying an additional 1,685,556 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Flutter Entertainment by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after acquiring an additional 1,122,892 shares during the period.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $121.07 on Monday. The firm has a 50 day simple moving average of $184.65 and a 200-day simple moving average of $229.00. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of -93.13 and a beta of 1.89. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. Flutter Entertainment PLC has a 1-year low of $119.47 and a 1-year high of $313.68.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 21st. Benchmark cut their target price on shares of Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a report on Monday, December 1st. Susquehanna reissued a “positive” rating and set a $228.00 price target on shares of Flutter Entertainment in a report on Tuesday, January 27th. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, BTIG Research lowered their price objective on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.10.

Flutter Entertainment Company 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.