103,103 Shares in Flutter Entertainment plc (NYSE:FLUT) Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC bought a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 103,103 shares of the company's stock, valued at approximately $24,464,000. Lord Abbett & CO. LLC owned about 0.06% of Flutter Entertainment as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FLUT. Vestcor Inc bought a new position in Flutter Entertainment during the third quarter worth about $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 worth $4,354,000 after acquiring an additional 1,663 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Flutter Entertainment during the third quarter valued at approximately $3,888,000. GSA Capital Partners LLP increased its stake in Flutter Entertainment by 48.3% in the third quarter. GSA Capital Partners LLP now owns 12,034 shares of the company's stock valued at $2,855,000 after purchasing an additional 3,922 shares in the last quarter. Finally, Ovata Capital Management Ltd acquired a new stake in Flutter Entertainment in the second quarter worth $2,413,000.

Flutter Entertainment Stock Down 0.6 %

FLUT stock traded down $1.75 during mid-day trading on Monday, reaching $275.96. The company had a trading volume of 1,143,879 shares, compared to its average volume of 1,162,766. Flutter Entertainment plc has a 52 week low of $158.43 and a 52 week high of $284.79. The stock has a 50 day simple moving average of $251.79 and a two-hundred day simple moving average of $220.54.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FLUT shares. Wells Fargo & Company boosted their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Macquarie initiated coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an "outperform" rating and a $340.00 price target for the company. Morgan Stanley initiated coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an "overweight" rating and a $247.00 price objective on the stock. Needham & Company LLC increased their target price on Flutter Entertainment from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a research note on Friday, November 22nd. They issued a "buy" rating and a $320.00 price target on the stock. Sixteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment has an average rating of "Buy" and an average price target of $301.53.

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.