FNY Investment Advisers LLC Reduces Stock Position in Flutter Entertainment plc (NYSE:FLUT)

FNY Investment Advisers LLC lowered its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 84.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 375 shares of the company's stock after selling 2,104 shares during the period. FNY Investment Advisers LLC's holdings in Flutter Entertainment were worth $96,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its stake in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company's stock worth $56,000 after purchasing an additional 99 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Flutter Entertainment by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company's stock valued at $737,000 after buying an additional 136 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of Flutter Entertainment by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company's stock worth $1,306,000 after buying an additional 181 shares during the period. M&T Bank Corp grew its holdings in shares of Flutter Entertainment by 11.3% during the third quarter. M&T Bank Corp now owns 1,995 shares of the company's stock worth $469,000 after buying an additional 203 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Flutter Entertainment in the 3rd quarter valued at about $82,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on FLUT. UBS Group increased their price target on Flutter Entertainment from $308.00 to $320.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Craig Hallum raised their target price 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. Barclays boosted their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Bank of America assumed coverage on Flutter Entertainment in a research note on Monday, October 14th. They set a "buy" rating and a $300.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Sixteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $303.40.

Flutter Entertainment Stock Up 0.9 %

NYSE:FLUT traded up $2.32 during mid-day trading on Thursday, hitting $257.63. 1,236,968 shares of the company's stock traded hands, compared to its average volume of 1,339,687. Flutter Entertainment plc has a 1 year low of $164.75 and a 1 year high of $284.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm's 50 day simple moving average is $265.49 and its 200 day simple moving average is $232.33.

Flutter Entertainment announced that its board has initiated a share 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 reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are 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.