Wilson Asset Management International PTY Ltd. raised its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 41.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,573 shares of the company's stock after acquiring an additional 10,990 shares during the period. Flutter Entertainment makes up about 2.2% of Wilson Asset Management International PTY Ltd.'s investment portfolio, making the stock its 23rd largest position. Wilson Asset Management International PTY Ltd.'s holdings in Flutter Entertainment were worth $8,915,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC lifted its stake 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 last quarter. Hollencrest Capital Management purchased a new stake in shares of Flutter Entertainment during the first quarter valued at $28,000. Assenagon Asset Management S.A. grew its holdings in shares of Flutter Entertainment by 3.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company's stock worth $1,053,000 after purchasing an additional 170 shares during the last quarter. Rothschild Investment LLC purchased a new position in Flutter Entertainment in the 2nd quarter worth about $37,000. Finally, CWM LLC purchased a new position in Flutter Entertainment in the 2nd quarter worth about $40,000.
Analysts Set New Price Targets
FLUT has been the topic of a number of research analyst reports. Susquehanna upped their target price on shares of Flutter Entertainment from $230.00 to $273.00 and gave the stock a "positive" rating in a research note on Monday, October 7th. Barclays raised their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. Berenberg Bank upgraded Flutter Entertainment to a "strong-buy" rating in a report on Tuesday, August 27th. Oppenheimer increased their price target on Flutter Entertainment from $255.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, September 26th. Finally, JMP Securities lifted their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the company a "market outperform" rating in a report on Monday, October 14th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $275.92.
Check Out Our Latest Report on Flutter Entertainment
Flutter Entertainment Price Performance
NYSE FLUT traded up $1.62 on Tuesday, hitting $227.62. The stock had a trading volume of 1,779,004 shares, compared to its average volume of 1,075,628. Flutter Entertainment plc has a 52-week low of $148.00 and a 52-week high of $252.84. The business's fifty day moving average price is $224.77 and its 200 day moving average price is $204.65.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.41 billion. Analysts forecast that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.
Flutter Entertainment announced that its board has approved a share repurchase program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
About Flutter Entertainment
(
Free Report)
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.
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