Flutter Entertainment plc (NYSE:FLUT) Stake Increased by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 536,716 shares of the company's stock after buying an additional 45,087 shares during the quarter. Flutter Entertainment makes up about 2.0% of Artemis Investment Management LLP's investment portfolio, making the stock its 4th largest holding. Artemis Investment Management LLP owned approximately 0.30% of Flutter Entertainment worth $139,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. US Bancorp DE raised its stake in shares of Flutter Entertainment by 71.7% in 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. Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment in the 3rd quarter worth approximately $82,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Flutter Entertainment during the 3rd quarter worth approximately $190,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Flutter Entertainment by 93.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company's stock worth $197,000 after purchasing an additional 520 shares during the period. Finally, Seelaus Asset Management LLC bought a new position in shares of Flutter Entertainment in the third quarter worth approximately $204,000.

Flutter Entertainment Trading Up 2.1 %

FLUT stock traded up $5.47 during midday trading on Monday, reaching $263.03. 1,200,603 shares of the company traded hands, compared to its average volume of 1,033,112. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $284.79. The business has a 50 day moving average of $265.79 and a 200-day moving average of $233.43. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FLUT shares. Needham & Company LLC restated a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research note on Wednesday, January 8th. UBS Group boosted their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Craig Hallum boosted their price target on Flutter Entertainment from $275.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company cut their price objective on shares of Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Seventeen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $304.44.

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.