Wellington Shields Capital Management LLC Invests $281,000 in Flutter Entertainment plc (NYSE:FLUT)

Wellington Shields Capital Management LLC acquired a new position in Flutter Entertainment plc (NYSE:FLUT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,540 shares of the company’s stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLUT. Hollencrest Capital Management purchased a new position in shares of Flutter Entertainment in the first quarter worth about $28,000. Assenagon Asset Management S.A. boosted its holdings in 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 buying an additional 170 shares during the period. Rothschild Investment LLC bought a new position in Flutter Entertainment in the 2nd quarter worth approximately $37,000. CWM LLC purchased a new position in Flutter Entertainment in the 2nd quarter valued at approximately $40,000. Finally, YHB Investment Advisors Inc. bought a new stake in Flutter Entertainment during the 1st quarter valued at $45,000.

Analysts Set New Price Targets

A number of research firms have recently commented on FLUT. Wells Fargo & Company raised their price target on Flutter Entertainment from $218.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Benchmark restated a “buy” rating and issued a $255.00 target price on shares of Flutter Entertainment in a research note on Wednesday, August 14th. JMP Securities upped their price target on Flutter Entertainment from $246.00 to $255.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley began coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target on the stock. Finally, Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $1,995.00.

Flutter Entertainment Stock Down 0.1 %

Shares of NYSE FLUT traded down $0.28 during midday trading on Friday, hitting $214.54. 155,866 shares of the company’s stock were exchanged, compared to its average volume of 811,759. The business’s fifty day moving average price is $199.96 and its two-hundred day moving average price is $199.68. Flutter Entertainment plc has a 12-month low of $148.00 and a 12-month high of $226.40.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping 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 expect that Flutter Entertainment plc will post 4.75 earnings per share 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.