Pinnbrook Capital Management LP Sells 27,029 Shares of Flutter Entertainment plc (NYSE:FLUT)

Pinnbrook Capital Management LP trimmed its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 63.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,379 shares of the company's stock after selling 27,029 shares during the period. Pinnbrook Capital Management LP's holdings in Flutter Entertainment were worth $3,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment in the third quarter worth $849,474,000. FMR LLC raised its stake in Flutter Entertainment by 13.2% during the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after buying an additional 393,122 shares during the period. Bank of Montreal Can lifted its holdings in Flutter Entertainment by 868.5% during 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 in the last quarter. Cantillon Capital Management LLC grew its stake in Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock valued at $568,851,000 after acquiring an additional 2,336,347 shares during the period. Finally, Geode Capital Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at about $436,599,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLUT. The Goldman Sachs Group started coverage on Flutter Entertainment in a report on Friday, November 22nd. They set a "buy" rating and a $320.00 price objective on the stock. Macquarie initiated coverage on shares of Flutter Entertainment in a report on Wednesday, December 11th. They set an "outperform" rating and a $340.00 target price on the stock. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a "buy" rating and a $320.00 price target for the company. Oppenheimer raised their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price objective on shares of Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Seventeen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $305.38.

Flutter Entertainment Stock Performance

NYSE FLUT traded down $15.38 during trading hours on Friday, hitting $272.36. 1,641,453 shares of the company traded hands, compared to its average volume of 1,361,716. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The business's 50-day moving average is $266.87 and its 200-day moving average is $245.45. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73.

Flutter Entertainment Profile

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.