Nomura Asset Management Co. Ltd. Buys Shares of 49,800 Flutter Entertainment plc (NYSE:FLUT)

Nomura Asset Management Co. Ltd. acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 49,800 shares of the company's stock, valued at approximately $11,817,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Flutter Entertainment in the third quarter worth approximately $849,474,000. Bank of Montreal Can raised its stake 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 valued at $798,927,000 after purchasing an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC lifted its holdings in Flutter Entertainment by 3,827.8% in the 3rd 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 in the last quarter. Marathon Asset Management Ltd acquired a new stake in Flutter Entertainment during the 3rd quarter worth $451,631,000. Finally, State Street Corp grew its holdings in shares of Flutter Entertainment by 61,014.6% during the third quarter. State Street Corp now owns 1,011,447 shares of the company's stock worth $239,996,000 after buying an additional 1,009,792 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FLUT shares. Macquarie initiated coverage on shares of Flutter Entertainment in a research report on Wednesday. They set an "outperform" rating and a $340.00 price target on the stock. Wells Fargo & Company boosted their target price on Flutter Entertainment from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. JMP Securities upped their price target on Flutter Entertainment from $287.00 to $299.00 and gave the company a "market outperform" rating in a research report on Wednesday, November 13th. Susquehanna lifted their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the stock a "positive" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a "buy" rating and a $320.00 target price for the company. Sixteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $301.53.

Flutter Entertainment Trading Up 1.3 %

FLUT stock traded up $3.64 during mid-day trading on Thursday, hitting $281.11. 1,091,522 shares of the company were exchanged, compared to its average volume of 1,162,544. Flutter Entertainment plc has a 12-month low of $158.43 and a 12-month high of $284.79. The business has a fifty day simple moving average of $250.06 and a 200-day simple moving average of $219.13.

Flutter Entertainment declared that its board has approved a share repurchase program on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

About Flutter Entertainment

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.