1,903,369 Shares in Flutter Entertainment plc (NYSE:FLUT) Acquired by Marathon Asset Management Ltd

Marathon Asset Management Ltd bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,903,369 shares of the company's stock, valued at approximately $451,631,000. Flutter Entertainment comprises approximately 12.5% of Marathon Asset Management Ltd's portfolio, making the stock its largest holding. Marathon Asset Management Ltd owned approximately 1.07% of Flutter Entertainment at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at $2,880,796,000. Capital Research Global Investors acquired a new position in Flutter Entertainment in the 1st quarter worth $2,418,032,000. Vanguard Group Inc. acquired a new position in Flutter Entertainment in the 1st quarter worth $1,578,442,000. Hsbc Holdings PLC boosted its stake in Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company's stock worth $1,131,079,000 after purchasing an additional 608,003 shares during the period. Finally, Capital International Investors acquired a new position in Flutter Entertainment in the 1st quarter worth $507,170,000.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and issued a $265.00 target price on shares of Flutter Entertainment in a research note on Monday. Needham & Company LLC assumed coverage on shares of Flutter Entertainment in a research note on Monday, September 23rd. They issued a "buy" rating and a $270.00 target price for the company. Oppenheimer boosted their price target on shares of Flutter Entertainment from $255.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, September 26th. BTIG Research boosted their price target on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a research report on Tuesday, August 27th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $275.92.

Flutter Entertainment Stock Down 1.0 %

Shares of FLUT stock traded down $2.33 on Friday, reaching $232.32. The stock had a trading volume of 1,338,724 shares, compared to its average volume of 1,071,691. The firm's 50-day moving average is $220.80 and its two-hundred day moving average is $202.97. Flutter Entertainment plc has a 12 month low of $148.00 and a 12 month high of $252.84.

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

Flutter Entertainment declared that its Board of Directors has initiated 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 buy up to 11.7% of its stock through open market purchases. Stock buyback programs are often 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.