Kingfisher Capital LLC Trims Stake in Flutter Entertainment plc (NYSE:FLUT)

Kingfisher Capital LLC reduced its position in Flutter Entertainment plc (NYSE:FLUT) by 0.8% during the second quarter, HoldingsChannel.com reports. The firm owned 11,693 shares of the company’s stock after selling 95 shares during the period. Kingfisher Capital LLC’s holdings in Flutter Entertainment were worth $2,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors purchased a new position in shares of Flutter Entertainment during the first quarter worth approximately $2,880,796,000. Capital Research Global Investors purchased a new stake in shares of Flutter Entertainment in the 1st quarter worth $2,418,032,000. Vanguard Group Inc. bought a new position in shares of Flutter Entertainment during the 1st quarter worth $1,578,442,000. Capital International Investors purchased a new position in shares of Flutter Entertainment during the first quarter valued at $507,170,000. Finally, Marshall Wace LLP raised its holdings in shares of Flutter Entertainment by 339.2% in the second quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock valued at $196,354,000 after acquiring an additional 831,585 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $228.17 on Wednesday. The firm has a fifty day moving average price of $207.03 and a 200 day moving average price of $200.42. Flutter Entertainment plc has a 1 year low of $148.00 and a 1 year high of $234.54.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, equities analysts expect that Flutter Entertainment plc will post 4.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FLUT. Barclays started coverage on shares of Flutter Entertainment in a report on Thursday, September 12th. They issued an “overweight” rating and a $263.00 price target for the company. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Susquehanna upped their price objective on Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a research note on Wednesday, August 14th. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Flutter Entertainment in a report on Wednesday, August 14th. Finally, Needham & Company LLC started coverage on shares of Flutter Entertainment in a report on Monday. They issued a “buy” rating and a $270.00 price target on the stock. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $248.80.

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.