Perpetual Ltd lowered its stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217,224 shares of the company's stock after selling 276,232 shares during the period. Flutter Entertainment accounts for 3.7% of Perpetual Ltd's portfolio, making the stock its largest position. Perpetual Ltd owned 0.69% of Flutter Entertainment worth $314,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment during the 3rd quarter worth $849,474,000. FMR LLC boosted its position in shares of Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after purchasing an additional 393,122 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock worth $798,927,000 after purchasing an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC boosted its position in shares of Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock worth $568,851,000 after purchasing an additional 2,336,347 shares in the last quarter. Finally, Marathon Asset Management Ltd bought a new position in shares of Flutter Entertainment during the third quarter worth $451,631,000.
Flutter Entertainment Price Performance
Shares of FLUT stock traded up $6.23 on Tuesday, reaching $269.33. The stock had a trading volume of 1,466,277 shares, compared to its average volume of 1,338,640. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm's 50-day moving average is $266.03 and its two-hundred day moving average is $233.92. Flutter Entertainment plc has a 12 month low of $174.03 and a 12 month high of $284.79.
Flutter Entertainment announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on FLUT shares. Susquehanna reduced their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. BTIG Research lifted their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Bank of America started coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They set a "buy" rating and a $300.00 price target on the stock. Moffett Nathanson lifted their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Oppenheimer boosted their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $304.44.
View Our Latest Report on FLUT
Flutter Entertainment Profile
(
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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