Sumitomo Mitsui DS Asset Management Company Ltd Acquires Shares of 16,384 Flutter Entertainment plc (NYSE:FLUT)

Sumitomo Mitsui DS Asset Management Company Ltd 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,384 shares of the company's stock, valued at approximately $3,888,000.

Other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC raised its holdings in shares of Flutter Entertainment by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company's stock worth $737,000 after acquiring an additional 136 shares during the period. Hollencrest Capital Management acquired a new position in Flutter Entertainment in the 1st quarter valued at about $28,000. Assenagon Asset Management S.A. grew its stake in shares of Flutter Entertainment by 3.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company's stock valued at $1,053,000 after buying an additional 170 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $37,000. Finally, CWM LLC purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at approximately $40,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Berenberg Bank raised Flutter Entertainment to a "strong-buy" rating in a research note on Tuesday, August 27th. Needham & Company LLC began coverage on Flutter Entertainment in a research report on Monday, September 23rd. They set a "buy" rating and a $270.00 price objective for the company. Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an "overweight" rating and a $247.00 target price for the company. Wells Fargo & Company raised shares of Flutter Entertainment from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $224.00 to $295.00 in a research note on Monday, October 14th. Finally, Susquehanna increased their price objective on shares of Flutter Entertainment from $230.00 to $273.00 and gave the stock a "positive" rating in a research report on Monday, October 7th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $275.92.

Flutter Entertainment Stock Down 0.9 %

Shares of FLUT stock traded down $2.04 during trading hours on Monday, reaching $230.29. 1,425,589 shares of the stock were exchanged, compared to its average volume of 1,073,434. The business's fifty day moving average is $221.60 and its two-hundred day moving average is $203.32. 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 announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share 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 analyst estimates of $3.41 billion. On average, equities research analysts anticipate that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized 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 buy up to 11.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management 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.