D1 Capital Partners L.P. Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

D1 Capital Partners L.P. purchased a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 434,500 shares of the company's stock, valued at approximately $79,235,000. Flutter Entertainment accounts for about 1.3% of D1 Capital Partners L.P.'s portfolio, making the stock its 24th largest position. D1 Capital Partners L.P. owned about 0.24% of Flutter Entertainment as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at $28,000. Assenagon Asset Management S.A. lifted its stake in shares of Flutter Entertainment by 3.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company's stock worth $1,053,000 after acquiring an additional 170 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth $40,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $45,000.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded down $2.24 during trading on Monday, reaching $229.62. The company had a trading volume of 1,854,350 shares, compared to its average volume of 992,096. Flutter Entertainment plc has a 12-month low of $148.00 and a 12-month high of $234.54. The stock's 50 day moving average price is $206.17 and its two-hundred day moving average price is $200.28.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.41 billion. Sell-side analysts predict that Flutter Entertainment plc will post 4.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FLUT shares. Benchmark reiterated a "buy" rating and issued a $255.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, August 14th. Barclays assumed coverage on shares of Flutter Entertainment in a research report on Thursday, September 12th. They set an "overweight" rating and a $263.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 14th. Oppenheimer lifted their target price on shares of Flutter Entertainment from $240.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Finally, JMP Securities restated a "market outperform" rating and set a $255.00 target price on shares of Flutter Entertainment in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment currently has an average rating of "Buy" and an average price target of $248.80.

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.