BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Flutter Entertainment plc (NYSE:FLUT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,648 shares of the company’s stock, valued at approximately $7,035,000.

Several other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment during the second quarter valued at approximately $37,000. CWM LLC purchased a new position in shares of Flutter Entertainment during the second quarter worth approximately $40,000. US Bancorp DE raised its stake in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $82,000. Finally, Hilltop National Bank purchased a new position in Flutter Entertainment during the 2nd quarter worth $101,000.

Flutter Entertainment Trading Up 1.1 %

FLUT stock opened at $276.32 on Monday. Flutter Entertainment plc has a 52 week low of $150.65 and a 52 week high of $279.04. The firm has a 50 day moving average of $243.32 and a 200 day moving average of $215.19.

Flutter Entertainment announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

FLUT has been the topic of a number of recent research reports. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. BTIG Research raised their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Oppenheimer upped their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley started coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. Finally, Craig Hallum upped their target price on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company 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.