Benson Investment Management Company Inc. Invests $5.12 Million in Flutter Entertainment plc (NYSE:FLUT)

Benson Investment Management Company Inc. purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,793 shares of the company's stock, valued at approximately $5,116,000. Flutter Entertainment accounts for approximately 2.1% of Benson Investment Management Company Inc.'s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLUT. Massachusetts Financial Services Co. MA acquired a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $849,474,000. Bank of Montreal Can grew its holdings in Flutter Entertainment by 868.5% in the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock valued at $798,927,000 after purchasing an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC increased its position in shares of Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock valued at $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Marathon Asset Management Ltd acquired a new position in shares of Flutter Entertainment during the 3rd quarter worth $451,631,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Flutter Entertainment in the 3rd quarter worth about $436,599,000.

Flutter Entertainment Stock Performance

NYSE FLUT traded up $2.57 during trading on Tuesday, hitting $259.17. The company's stock had a trading volume of 1,207,045 shares, compared to its average volume of 1,249,301. Flutter Entertainment plc has a 52 week low of $163.00 and a 52 week high of $284.79. The firm has a 50 day moving average price of $264.16 and a 200 day moving average price of $231.45.

Flutter Entertainment announced that its board has authorized a share buyback plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on FLUT shares. Wells Fargo & Company dropped their price target on Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Macquarie initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, December 11th. They issued an "outperform" rating and a $340.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Wednesday, January 8th. Oppenheimer lifted their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group began coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They set a "buy" rating and a $320.00 target price on the stock. Sixteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $303.40.

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.