Artemis Investment Management LLP Buys 171,685 Shares of Flutter Entertainment plc (NYSE:FLUT)

Artemis Investment Management LLP boosted its stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 53.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 491,629 shares of the company's stock after purchasing an additional 171,685 shares during the period. Flutter Entertainment comprises approximately 1.8% of Artemis Investment Management LLP's holdings, making the stock its 6th largest position. Artemis Investment Management LLP owned approximately 0.28% of Flutter Entertainment worth $116,031,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FLUT. Acadian Asset Management LLC acquired a new position in Flutter Entertainment in the 1st quarter worth about $1,272,000. Nordea Investment Management AB acquired a new position in Flutter Entertainment in the first quarter worth approximately $1,656,000. Capital International Ltd. CA acquired a new position in Flutter Entertainment in the first quarter worth approximately $2,180,000. Swiss National Bank bought a new position in Flutter Entertainment during the first quarter valued at approximately $119,485,000. Finally, Vanguard Group Inc. acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $1,578,442,000.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several analyst reports. Benchmark increased their price target on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Moffett Nathanson increased their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. BTIG Research boosted their price target on Flutter Entertainment from $245.00 to $249.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Morgan Stanley initiated coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They set an "overweight" rating and a $247.00 price target for the company. Finally, JMP Securities reissued a "market outperform" rating and issued a $255.00 price objective on shares of Flutter Entertainment in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of "Buy" and an average target price of $264.36.

Flutter Entertainment Stock Down 0.0 %

Shares of FLUT stock traded down $0.03 during trading hours on Wednesday, reaching $236.13. 635,881 shares of the company's stock were exchanged, compared to its average volume of 1,030,922. Flutter Entertainment plc has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The business has a fifty day moving average price of $214.76 and a 200-day moving average price of $201.70.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. On average, equities analysts predict that Flutter Entertainment plc will post 4.75 EPS for the current year.

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

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.