AustralianSuper Pty Ltd Acquires Shares of 962,210 Flutter Entertainment plc (NYSE:FLUT)

AustralianSuper Pty Ltd acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 962,210 shares of the company's stock, valued at approximately $228,313,000. Flutter Entertainment makes up approximately 1.1% of AustralianSuper Pty Ltd's portfolio, making the stock its 20th biggest holding. AustralianSuper Pty Ltd owned 0.54% of Flutter Entertainment as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in shares of Flutter Entertainment in the first quarter valued at $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the second quarter worth about $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $40,000. US Bancorp DE increased its holdings in Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company's stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth about $101,000.

Flutter Entertainment Stock Down 1.7 %

FLUT traded down $4.06 during trading hours on Thursday, reaching $232.75. The company's stock had a trading volume of 1,329,636 shares, compared to its average volume of 1,086,362. Flutter Entertainment plc has a 52 week low of $148.00 and a 52 week high of $252.84. The company's 50-day moving average is $225.76 and its 200-day moving average is $205.16.

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

Flutter Entertainment announced that its board has authorized a share repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

FLUT has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an "overweight" rating and issued a $295.00 price objective on shares of Flutter Entertainment in a research report on Wednesday. Barclays increased their price target on Flutter Entertainment from $263.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. BTIG Research lifted their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Craig Hallum increased their target price on Flutter Entertainment from $240.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Finally, Susquehanna lifted their price target on shares of Flutter Entertainment from $230.00 to $273.00 and gave the company a "positive" rating in a research note on Monday, October 7th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $275.92.

Flutter Entertainment Company 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.