Public Employees Retirement System of Ohio Purchases New Shares in Flutter Entertainment plc (NYSE:FLUT)

Public Employees Retirement System of Ohio bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,953 shares of the company's stock, valued at approximately $9,653,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in shares of Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company's stock worth $1,131,079,000 after purchasing an additional 608,003 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Flutter Entertainment in the 3rd quarter valued at about $849,474,000. FMR LLC grew its stake in Flutter Entertainment by 13.2% in the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after acquiring an additional 393,122 shares in the last quarter. Bank of Montreal Can increased 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 acquiring an additional 3,019,376 shares during the period. Finally, Cantillon Capital Management LLC raised its stake 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 valued at $568,851,000 after acquiring an additional 2,336,347 shares in the last quarter.

Flutter Entertainment Trading Down 1.3 %

Shares of NYSE:FLUT traded down $3.64 during trading on Friday, hitting $277.51. The stock had a trading volume of 1,224,500 shares, compared to its average volume of 1,162,734. Flutter Entertainment plc has a 12-month low of $158.43 and a 12-month high of $284.79. The stock has a 50-day simple moving average of $250.99 and a two-hundred day simple moving average of $219.56.

Flutter Entertainment announced that its board 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 buy up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Macquarie initiated coverage on Flutter Entertainment in a research note on Wednesday. They issued an "outperform" rating and a $340.00 price objective on the stock. JMP Securities raised their price target on Flutter Entertainment from $287.00 to $299.00 and gave the company a "market outperform" rating in a research note on Wednesday, November 13th. Barclays boosted their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. BTIG Research increased their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Sixteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $301.53.

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.