Oppenheimer & Co. Inc. Invests $863,000 in Flutter Entertainment plc (NYSE:FLUT)

Oppenheimer & Co. Inc. acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 3,638 shares of the company's stock, valued at approximately $863,000.

A number of other hedge funds also recently added to or reduced their stakes in FLUT. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the second quarter valued at about $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at approximately $40,000. US Bancorp DE lifted its holdings in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company's stock valued at $56,000 after buying an additional 99 shares during the period. 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 acquired a new position in Flutter Entertainment during the second quarter worth $101,000.

Flutter Entertainment Trading Down 0.0 %

Shares of Flutter Entertainment stock traded down $0.02 during trading hours on Wednesday, reaching $263.37. 1,549,064 shares of the company's stock were exchanged, compared to its average volume of 1,146,494. Flutter Entertainment plc has a 52-week low of $150.65 and a 52-week high of $269.90. The company has a fifty day moving average of $235.78 and a 200-day moving average of $211.33.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BTIG Research raised their target price on Flutter Entertainment from $249.00 to $305.00 and gave the company a "buy" rating in a report on Monday, November 11th. Barclays boosted their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Morgan Stanley initiated coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They issued an "overweight" rating and a $247.00 target price for the company. Susquehanna boosted their price target on Flutter Entertainment from $273.00 to $286.00 and gave the stock a "positive" rating in a research note on Wednesday, November 13th. Finally, Benchmark upped their target price on Flutter Entertainment from $265.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $296.08.

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.