Hohimer Wealth Management LLC Grows Position in Flutter Entertainment plc (NYSE:FLUT)

Hohimer Wealth Management LLC lifted its stake in Flutter Entertainment plc (NYSE:FLUT) by 3.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,506 shares of the company’s stock after purchasing an additional 181 shares during the period. Hohimer Wealth Management LLC’s holdings in Flutter Entertainment were worth $1,306,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC acquired a new position in Flutter Entertainment in the second quarter valued at approximately $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $40,000. US Bancorp DE grew its holdings in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $190,000.

Flutter Entertainment Price Performance

FLUT opened at $274.71 on Wednesday. The business has a fifty day moving average price of $249.17 and a 200 day moving average price of $218.72. Flutter Entertainment plc has a 12 month low of $158.43 and a 12 month high of $284.79.

Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on FLUT shares. Benchmark increased their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. BTIG Research upped their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JMP Securities lifted their target price on shares of Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Moffett Nathanson boosted their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group raised their price target on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Buy” and a consensus price target of $298.79.

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.