Fmr LLC Acquires 393,122 Shares of Flutter Entertainment plc (NYSE:FLUT)

Fmr LLC raised its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,375,670 shares of the company’s stock after purchasing an additional 393,122 shares during the quarter. Fmr LLC owned 1.90% of Flutter Entertainment worth $794,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE lifted its position in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock worth $737,000 after purchasing an additional 136 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after purchasing an additional 170 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment during the second quarter worth $37,000. Finally, CWM LLC bought a new stake in shares of Flutter Entertainment during the second quarter worth $40,000.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $273.28 on Thursday. The business has a fifty day moving average of $241.55 and a 200 day moving average of $214.16. Flutter Entertainment plc has a 1 year low of $150.65 and a 1 year high of $279.04.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have commented on FLUT. Craig Hallum raised their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer upped their target price on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC lifted their price target on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Bank of America began coverage on Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price objective for the company. Finally, Barclays lifted their target price on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and an average target price of $298.79.

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.