Exchange Traded Concepts LLC Has $9.77 Million Stake in Flutter Entertainment plc (NYSE:FLUT)

Exchange Traded Concepts LLC lowered its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,186 shares of the company's stock after selling 6,200 shares during the quarter. Exchange Traded Concepts LLC's holdings in Flutter Entertainment were worth $9,773,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in shares of Flutter Entertainment during the first quarter worth $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $37,000. CWM LLC acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $40,000. Hilltop National Bank bought a new position in shares of Flutter Entertainment in the second quarter worth about $101,000. Finally, Financial Perspectives Inc acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $102,000.

Analyst Ratings Changes

FLUT has been the subject of a number of research reports. JMP Securities raised their price target on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a "market outperform" rating in a report on Monday. Moffett Nathanson boosted their target price on Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Wells Fargo & Company raised Flutter Entertainment from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $224.00 to $295.00 in a research note on Monday. Craig Hallum lifted their price objective on Flutter Entertainment from $240.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Benchmark reissued a "buy" rating and set a $265.00 price objective on shares of Flutter Entertainment in a report on Monday. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $275.92.

Flutter Entertainment Stock Up 4.8 %

NYSE FLUT traded up $10.60 during trading on Monday, reaching $230.10. 2,982,384 shares of the stock traded hands, compared to its average volume of 1,067,511. Flutter Entertainment plc has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The stock's 50-day moving average price is $217.13 and its 200 day moving average price is $202.14.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. Analysts expect that Flutter Entertainment plc will post 4.75 EPS for the current year.

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