Advisors Capital Management LLC Makes New Investment in Flutter Entertainment PLC $FLUT

Advisors Capital Management LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 13,462 shares of the company’s stock, valued at approximately $3,419,000.

A number of other large investors have also made changes to their positions in FLUT. JCIC Asset Management Inc. acquired a new position in Flutter Entertainment during the third quarter worth about $32,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $34,000. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 43.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares during the period. Allworth Financial LP increased its stake in Flutter Entertainment by 116.4% in the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after purchasing an additional 78 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Flutter Entertainment during the second quarter worth $42,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. BTIG Research lowered their target price on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Canaccord Genuity Group lowered their price objective on shares of Flutter Entertainment from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. UBS Group cut their target price on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Finally, Barclays dropped their price objective on shares of Flutter Entertainment from $307.00 to $304.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.10.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $122.12 on Friday. The business has a 50-day moving average of $186.68 and a 200-day moving average of $231.33. Flutter Entertainment PLC has a 1-year low of $119.47 and a 1-year high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of -93.94 and a beta of 1.88.

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.