Janus Henderson Group PLC Sells 50,003 Shares of Flutter Entertainment plc (NYSE:FLUT)

Janus Henderson Group PLC cut its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 15.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,196 shares of the company's stock after selling 50,003 shares during the period. Janus Henderson Group PLC owned 0.15% of Flutter Entertainment worth $62,536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in Flutter Entertainment by 25.3% during the third quarter. HighTower Advisors LLC now owns 5,249 shares of the company's stock worth $1,245,000 after purchasing an additional 1,061 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Flutter Entertainment by 143.5% during the 3rd quarter. Holocene Advisors LP now owns 441,146 shares of the company's stock worth $104,675,000 after buying an additional 259,962 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in Flutter Entertainment in the third quarter valued at about $216,000. Benjamin Edwards Inc. bought a new position in Flutter Entertainment in the third quarter valued at about $279,000. Finally, TOMS Capital Investment Management LP raised its stake in Flutter Entertainment by 13.0% during the third quarter. TOMS Capital Investment Management LP now owns 370,269 shares of the company's stock worth $87,857,000 after acquiring an additional 42,705 shares in the last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT traded up $0.77 during trading hours on Friday, hitting $280.38. 1,535,712 shares of the company traded hands, compared to its average volume of 1,158,914. Flutter Entertainment plc has a one year low of $158.43 and a one year high of $284.79. The firm's 50-day simple moving average is $246.86 and its 200-day simple moving average is $217.10.

Flutter Entertainment declared that its board has authorized a stock buyback plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a report on Tuesday, August 27th. 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. The Goldman Sachs Group started coverage on Flutter Entertainment in a research note on Friday, November 22nd. They issued a "buy" rating and a $320.00 price target for the company. Moffett Nathanson boosted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, JMP Securities increased their target price on Flutter Entertainment from $287.00 to $299.00 and gave the company a "market outperform" rating in a research report on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $298.79.

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.