CWA Asset Management Group LLC Takes Position in Flutter Entertainment plc (NYSE:FLUT)

CWA Asset Management Group LLC bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 41,263 shares of the company's stock, valued at approximately $9,791,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLUT. Rothschild Investment LLC purchased a new position in Flutter Entertainment in the second quarter valued at $37,000. CWM LLC purchased a new position in shares of Flutter Entertainment in the 2nd quarter valued at about $40,000. US Bancorp DE increased 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 worth $56,000 after buying an additional 99 shares during the period. Hilltop National Bank acquired a new stake in Flutter Entertainment in the second quarter valued at approximately $101,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Flutter Entertainment in the first quarter worth approximately $130,000.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of analyst reports. BTIG Research raised their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. UBS Group initiated coverage on Flutter Entertainment in a report on Friday. They set a "buy" rating and a $306.00 price target for the company. Barclays raised their target price on Flutter Entertainment from $263.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. Morgan Stanley started coverage on Flutter Entertainment in a report on Thursday, August 22nd. They issued an "overweight" rating and a $247.00 price target for the company. Finally, JMP Securities boosted their price objective on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a "market outperform" rating in a research report on Monday, October 14th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $278.23.

Flutter Entertainment Stock Performance

FLUT stock traded up $10.06 during trading on Friday, hitting $248.04. The company had a trading volume of 2,675,579 shares, compared to its average volume of 1,690,016. The firm has a 50-day moving average price of $229.28 and a 200-day moving average price of $207.63. Flutter Entertainment plc has a 1-year low of $148.00 and a 1-year high of $252.84.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. As a group, equities research analysts forecast that Flutter Entertainment plc will post 4.72 EPS for the current year.

Flutter Entertainment declared that its board has initiated a stock buyback program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

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.