Harbour Capital Advisors LLC Invests $505,000 in Flutter Entertainment plc (NYSE:FLUT)

Harbour Capital Advisors LLC acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,966 shares of the company's stock, valued at approximately $505,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in Flutter Entertainment in the third quarter worth about $849,474,000. Bank of Montreal Can raised its position in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock worth $798,927,000 after buying an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC raised its holdings in shares of Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock valued at $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter. Marathon Asset Management Ltd bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at $451,631,000. Finally, Geode Capital Management LLC bought a new position in Flutter Entertainment in the third quarter valued at about $436,599,000.

Flutter Entertainment Price Performance

Shares of FLUT traded up $2.30 during trading hours on Tuesday, reaching $258.90. 1,644,232 shares of the company traded hands, compared to its average volume of 1,307,554. Flutter Entertainment plc has a 12-month low of $163.00 and a 12-month high of $284.79. The business has a fifty day moving average price of $264.75 and a 200-day moving average price of $231.99.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLUT. Susquehanna lowered their target price on Flutter Entertainment from $322.00 to $317.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. JMP Securities raised their target price on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a "market outperform" rating in a research note on Monday, January 6th. Benchmark upped their price objective on Flutter Entertainment from $265.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Wells Fargo & Company decreased their target price on shares of Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays raised their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Sixteen 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 has a consensus rating of "Buy" and an average target price of $303.40.

Flutter Entertainment Company 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.