Geode Capital Management LLC bought a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,846,865 shares of the company's stock, valued at approximately $436,599,000. Geode Capital Management LLC owned 1.04% of Flutter Entertainment at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in FLUT. Vestcor Inc bought a new position in shares of Flutter Entertainment in the third quarter valued at approximately $815,000. Raymond James & Associates boosted its stake in Flutter Entertainment by 10.0% during the 3rd quarter. Raymond James & Associates now owns 18,348 shares of the company's stock valued at $4,354,000 after purchasing an additional 1,663 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Flutter Entertainment during the 3rd quarter valued at $3,888,000. GSA Capital Partners LLP raised its stake in shares of Flutter Entertainment by 48.3% in the 3rd quarter. GSA Capital Partners LLP now owns 12,034 shares of the company's stock worth $2,855,000 after buying an additional 3,922 shares in the last quarter. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Flutter Entertainment in the second quarter valued at $2,413,000.
Flutter Entertainment Price Performance
Shares of FLUT traded down $3.44 during trading hours on Friday, reaching $277.71. The company's stock had a trading volume of 1,224,678 shares, compared to its average volume of 1,162,734. The company has a 50 day moving average of $251.79 and a two-hundred day moving average of $220.07. Flutter Entertainment plc has a 1-year low of $158.43 and a 1-year high of $284.79.
Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several brokerages have commented on FLUT. Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an "overweight" rating and a $247.00 price target on the stock. Susquehanna boosted their target price on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a "positive" rating in a report on Wednesday, November 13th. Moffett Nathanson raised their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Benchmark lifted their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, UBS Group increased their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Sixteen investment 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.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $301.53.
Check Out Our Latest Analysis on FLUT
Flutter Entertainment Profile
(
Free Report)
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.
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