Royal London Asset Management Ltd. Acquires 9,509 Shares of Flutter Entertainment plc (NYSE:FLUT)

Royal London Asset Management Ltd. raised its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,110 shares of the company's stock after acquiring an additional 9,509 shares during the period. Royal London Asset Management Ltd. owned approximately 0.08% of Flutter Entertainment worth $33,008,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $40,000. US Bancorp DE raised its position in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company's stock valued at $56,000 after buying an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $190,000.

Flutter Entertainment Price Performance

Shares of FLUT traded up $0.77 during mid-day trading on Friday, hitting $280.38. 1,535,712 shares of the company traded hands, compared to its average volume of 1,158,914. Flutter Entertainment plc has a one year low of $158.43 and a one year high of $284.79. The business has a 50-day moving average of $247.70 and a 200 day moving average of $217.59.

Flutter Entertainment announced that its board has approved a stock buyback plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Susquehanna increased their price target on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a "positive" rating in a research report on Wednesday, November 13th. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an "overweight" rating and a $247.00 price target for the company. Benchmark increased their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a research report on Tuesday, August 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They issued a "buy" rating and a $320.00 price target for the company. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $298.79.

About Flutter Entertainment

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.