Brown Capital Management LLC Sells 6,659 Shares of Flutter Entertainment PLC $FLUT

Brown Capital Management LLC lowered its stake in Flutter Entertainment PLC (NYSE:FLUT) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,715 shares of the company’s stock after selling 6,659 shares during the period. Flutter Entertainment accounts for 2.8% of Brown Capital Management LLC’s holdings, making the stock its 12th largest holding. Brown Capital Management LLC owned approximately 0.15% of Flutter Entertainment worth $69,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. Allianz Asset Management GmbH lifted its stake in shares of Flutter Entertainment by 26.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,724 shares of the company’s stock valued at $946,000 after acquiring an additional 785 shares during the last quarter. Callan Family Office LLC boosted its stake in shares of Flutter Entertainment by 51.6% during the third quarter. Callan Family Office LLC now owns 2,134 shares of the company’s stock valued at $542,000 after purchasing an additional 726 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Flutter Entertainment during the third quarter valued at about $34,000. AGF Management Ltd. bought a new stake in shares of Flutter Entertainment during the third quarter worth about $9,519,000. Finally, Strategy Asset Managers LLC acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $868,000.

Analyst Ratings Changes

FLUT has been the topic of several recent research reports. Oppenheimer set a $280.00 target price on shares of Flutter Entertainment in a report on Thursday. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and reduced their price target for the company from $265.00 to $228.00 in a research report on Monday, November 24th. Canaccord Genuity Group lowered their price objective on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Sanford C. Bernstein reduced their target price on Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.48.

Flutter Entertainment Trading Down 1.5%

NYSE FLUT opened at $162.75 on Tuesday. Flutter Entertainment PLC has a one year low of $160.72 and a one 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 business has a 50 day simple moving average of $204.55 and a 200 day simple moving average of $245.27. The stock has a market capitalization of $28.52 billion, a P/E ratio of -125.19 and a beta of 1.89.

Flutter Entertainment 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.