Allspring Global Investments Holdings LLC Cuts Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Allspring Global Investments Holdings LLC cut its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 97.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,514 shares of the company's stock after selling 93,453 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Flutter Entertainment were worth $593,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds 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 1st quarter worth $28,000. Rothschild Investment LLC bought a new stake in Flutter Entertainment in the second quarter worth about $37,000. CWM LLC purchased a new position in Flutter Entertainment in the second quarter valued at about $40,000. Hilltop National Bank bought a new position in shares of Flutter Entertainment during the 2nd quarter valued at approximately $101,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth approximately $130,000.

Analyst Ratings Changes

Several research firms recently commented on FLUT. Wells Fargo & Company reiterated an "overweight" rating and issued a $295.00 price objective on shares of Flutter Entertainment in a research note on Wednesday. Bank of America started coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a "buy" rating and a $300.00 price objective for the company. Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an "overweight" rating and a $247.00 target price for the company. Susquehanna boosted their price target on shares of Flutter Entertainment from $230.00 to $273.00 and gave the company a "positive" rating in a research report on Monday, October 7th. Finally, JMP Securities raised their price objective on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a "market outperform" rating in a report on Monday, October 14th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flutter Entertainment presently has a consensus rating of "Buy" and a consensus price target of $275.92.

Flutter Entertainment Trading Down 0.7 %

Shares of Flutter Entertainment stock traded down $1.61 during trading on Friday, hitting $231.16. The stock had a trading volume of 912,277 shares, compared to its average volume of 1,085,637. Flutter Entertainment plc has a 12 month low of $148.00 and a 12 month high of $252.84. The business's 50-day moving average is $226.63 and its 200 day moving average is $205.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly 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 business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. Equities research analysts forecast that Flutter Entertainment plc will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.