ValueAct Holdings L.P. Sells 171,900 Shares of Flutter Entertainment plc (NYSE:FLUT)

ValueAct Holdings L.P. decreased its position in Flutter Entertainment plc (NYSE:FLUT) by 34.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,235 shares of the company’s stock after selling 171,900 shares during the period. Flutter Entertainment accounts for approximately 1.7% of ValueAct Holdings L.P.’s investment portfolio, making the stock its 10th largest position. ValueAct Holdings L.P. owned 0.18% of Flutter Entertainment worth $58,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in Flutter Entertainment in the first quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new stake in Flutter Entertainment in the second quarter valued at $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $40,000. YHB Investment Advisors Inc. acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at $45,000. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $101,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on FLUT shares. Morgan Stanley started coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target on the stock. Susquehanna upped their price target on Flutter Entertainment from $222.00 to $230.00 and gave the company a “positive” rating in a research note on Wednesday, August 14th. Needham & Company LLC started coverage on Flutter Entertainment in a research note on Monday. They issued a “buy” rating and a $270.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $255.00 price target on shares of Flutter Entertainment in a research note on Wednesday, September 18th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Flutter Entertainment in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $248.80.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $229.62 on Tuesday. The stock’s 50-day moving average is $206.62 and its two-hundred day moving average is $200.34. Flutter Entertainment plc has a 1-year low of $148.00 and a 1-year high of $234.54.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Sell-side analysts expect that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.

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.