GSA Capital Partners LLP Purchases 3,922 Shares of Flutter Entertainment plc (NYSE:FLUT)

GSA Capital Partners LLP increased its position in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 48.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,034 shares of the company's stock after buying an additional 3,922 shares during the quarter. GSA Capital Partners LLP's holdings in Flutter Entertainment were worth $2,855,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors bought a new stake in Flutter Entertainment in the first quarter valued at $2,880,796,000. Capital Research Global Investors bought a new stake in Flutter Entertainment in the first quarter valued at $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment in the first quarter valued at $1,578,442,000. Capital International Investors bought a new stake in shares of Flutter Entertainment during the 1st quarter valued at $507,170,000. Finally, Marathon Asset Management Ltd bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $451,631,000.

Flutter Entertainment Trading Down 1.1 %

Flutter Entertainment stock traded down $2.71 during midday trading on Tuesday, hitting $248.30. The stock had a trading volume of 2,672,427 shares, compared to its average volume of 1,112,440. The firm's fifty day moving average is $230.06 and its two-hundred day moving average is $208.23. Flutter Entertainment plc has a 52-week low of $148.30 and a 52-week 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, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.41 billion. As a group, research analysts predict that Flutter Entertainment plc will post 4.72 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on FLUT shares. JMP Securities boosted their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a "market outperform" rating in a report on Monday, October 14th. UBS Group started coverage on shares of Flutter Entertainment in a report on Friday. They set a "buy" rating and a $306.00 target price on the stock. Craig Hallum boosted their target price on shares of Flutter Entertainment from $240.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Barclays boosted their target price on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, September 26th. Finally, Berenberg Bank upgraded shares of Flutter Entertainment to a "strong-buy" rating in a research note on Tuesday, August 27th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $282.54.

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.