Investment Management Corp of Ontario Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

Investment Management Corp of Ontario acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,900 shares of the company's stock, valued at approximately $1,400,000.

Several other large investors have also recently made changes to their positions in the business. Raymond James & Associates grew its holdings 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 buying an additional 1,663 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $3,888,000. GSA Capital Partners LLP boosted its position in shares of Flutter Entertainment by 48.3% during the 3rd quarter. GSA Capital Partners LLP now owns 12,034 shares of the company's stock valued at $2,855,000 after acquiring an additional 3,922 shares during the last quarter. Ovata Capital Management Ltd bought a new stake in shares of Flutter Entertainment during the 2nd quarter valued at about $2,413,000. Finally, Hiddenite Capital Partners LP bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $4,983,000.

Flutter Entertainment Price Performance

Flutter Entertainment stock traded up $0.77 during trading hours on Friday, reaching $280.38. The company had a trading volume of 1,535,712 shares, compared to its average volume of 1,158,914. Flutter Entertainment plc has a 12-month low of $158.43 and a 12-month high of $284.79. The company has a 50-day moving average price of $247.70 and a 200 day moving average price of $217.59.

Flutter Entertainment announced that its Board of Directors has authorized a stock buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Craig Hallum lifted their price target on Flutter Entertainment from $275.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Morgan Stanley started coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an "overweight" rating and a $247.00 price target for the company. Berenberg Bank upgraded Flutter Entertainment to a "strong-buy" rating in a research report on Tuesday, August 27th. JMP Securities boosted their target price on Flutter Entertainment from $287.00 to $299.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 13th. Finally, BTIG Research boosted their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Buy" and an average target price of $298.79.

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.