Flutter Entertainment plc (NYSE:FLUT) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC lifted its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 60.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,363 shares of the company's stock after purchasing an additional 19,415 shares during the period. Verition Fund Management LLC's holdings in Flutter Entertainment were worth $12,187,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Hilltop National Bank acquired a new position in shares of Flutter Entertainment in the second quarter worth $101,000. CWM LLC purchased a new stake in Flutter Entertainment during the 2nd quarter worth about $40,000. Simplicity Wealth LLC raised its position in Flutter Entertainment by 44.6% in the 2nd quarter. Simplicity Wealth LLC now owns 2,959 shares of the company's stock valued at $540,000 after purchasing an additional 912 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Flutter Entertainment by 115.4% in the 2nd quarter. Artemis Investment Management LLP now owns 319,944 shares of the company's stock valued at $58,494,000 after buying an additional 171,414 shares during the period. Finally, Dnca Finance acquired a new position in shares of Flutter Entertainment during the second quarter worth about $98,147,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLUT. Craig Hallum lifted their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Benchmark boosted their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Berenberg Bank raised Flutter Entertainment to a "strong-buy" rating in a report on Tuesday, August 27th. Bank of America assumed coverage on Flutter Entertainment in a report on Monday, October 14th. They set a "buy" rating and a $300.00 price target for the company. Finally, Needham & Company LLC increased their price objective on Flutter Entertainment from $270.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Buy" and a consensus target price of $298.79.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded up $2.99 on Friday, reaching $276.32. The company's stock had a trading volume of 554,027 shares, compared to its average volume of 1,864,201. Flutter Entertainment plc has a 52-week low of $150.65 and a 52-week high of $279.04. The stock's 50-day moving average is $243.32 and its two-hundred day moving average is $215.19.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are often 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.