Vontobel Holding Ltd. Sells 457,094 Shares of Flutter Entertainment plc (NYSE:FLUT)

Vontobel Holding Ltd. cut its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,239,542 shares of the company's stock after selling 457,094 shares during the quarter. Flutter Entertainment accounts for 1.1% of Vontobel Holding Ltd.'s portfolio, making the stock its 28th largest position. Vontobel Holding Ltd. owned about 0.70% of Flutter Entertainment worth $319,450,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Flutter Entertainment in the 3rd quarter worth $849,474,000. FMR LLC grew its holdings in shares of Flutter Entertainment by 13.2% in the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after acquiring an additional 393,122 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Flutter Entertainment by 868.5% in the 3rd 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 during the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock worth $568,851,000 after acquiring an additional 2,336,347 shares during the last quarter. Finally, Marathon Asset Management Ltd acquired a new position in shares of Flutter Entertainment in the 3rd quarter worth $451,631,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FLUT shares. JMP Securities lifted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a report on Monday, January 6th. Macquarie started coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an "outperform" rating and a $340.00 target price on the stock. Wells Fargo & Company decreased their target price on Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research report on Wednesday, January 8th. Seventeen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $305.38.

Flutter Entertainment Stock Down 1.4 %

Shares of FLUT traded down $4.23 during trading hours on Tuesday, hitting $294.58. 2,256,426 shares of the company were exchanged, compared to its average volume of 1,366,406. The firm's 50 day moving average is $266.06 and its 200-day moving average is $244.07. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment Company 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.