Flutter Entertainment plc (NYSE:FLUT) Stock Holdings Boosted by Fmr LLC

FMR LLC increased its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 13.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,375,670 shares of the company's stock after acquiring an additional 393,122 shares during the period. FMR LLC owned approximately 1.90% of Flutter Entertainment worth $794,362,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FLUT. Hsbc Holdings PLC grew its stake in shares of Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company's stock valued at $1,131,079,000 after acquiring an additional 608,003 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment in the third quarter valued at about $849,474,000. Bank of Montreal Can grew its stake in Flutter Entertainment by 868.5% during the 3rd 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 in the last quarter. Cantillon Capital Management LLC boosted its stake in shares of Flutter Entertainment by 3,827.8% during the 3rd 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 during the last quarter. Finally, Marathon Asset Management Ltd acquired a new position in Flutter Entertainment during the 3rd quarter worth $451,631,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Flutter Entertainment from $295.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Morgan Stanley assumed coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an "overweight" rating and a $247.00 price target on the stock. UBS Group lifted their price objective on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a "buy" rating in a report on Tuesday. Craig Hallum increased their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Moffett Nathanson boosted their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of "Buy" and an average target price of $298.79.

Flutter Entertainment Stock Performance

FLUT stock traded down $2.41 on Thursday, reaching $273.33. The company's stock had a trading volume of 683,383 shares, compared to its average volume of 1,158,808. Flutter Entertainment plc has a 52 week low of $150.65 and a 52 week high of $279.04. The firm has a fifty day moving average of $242.43 and a two-hundred day moving average of $214.57.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.