Polymer Capital Management HK LTD trimmed its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 80.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,300 shares of the company's stock after selling 5,478 shares during the quarter. Polymer Capital Management HK LTD's holdings in Flutter Entertainment were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in FLUT. Hsbc Holdings PLC increased its holdings in shares of Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company's stock worth $1,131,079,000 after buying an additional 608,003 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment in the third quarter worth $849,474,000. FMR LLC increased its stake in Flutter Entertainment by 13.2% in the third quarter. FMR LLC now owns 3,375,670 shares of the company's stock valued at $794,362,000 after acquiring an additional 393,122 shares during the last quarter. Bank of Montreal Can raised its position in Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock valued at $798,927,000 after purchasing an additional 3,019,376 shares in the last quarter. Finally, Cantillon Capital Management LLC raised its position in 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 valued at $568,851,000 after purchasing an additional 2,336,347 shares in the last quarter.
Flutter Entertainment Stock Up 0.6 %
Shares of Flutter Entertainment stock traded up $1.78 during trading on Thursday, hitting $279.80. The company's stock had a trading volume of 1,371,574 shares, compared to its average volume of 1,157,310. Flutter Entertainment plc has a 52 week low of $158.43 and a 52 week high of $282.71. The company has a fifty day simple moving average of $246.86 and a two-hundred day simple moving average of $217.10.
Flutter Entertainment announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on FLUT shares. BTIG Research upped their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Oppenheimer upped their target price on Flutter Entertainment from $300.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. UBS Group lifted their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Craig Hallum upped their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley began coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They set an "overweight" rating and a $247.00 target price on the stock. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment has an average rating of "Buy" and a consensus target price of $298.79.
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About Flutter Entertainment
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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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