Swiss National Bank Sells 85,468 Shares of Flutter Entertainment plc (NYSE:FLUT)

Swiss National Bank decreased its holdings in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 13.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,682 shares of the company's stock after selling 85,468 shares during the quarter. Swiss National Bank owned 0.30% of Flutter Entertainment worth $125,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FLUT. Capital World Investors acquired a new position in Flutter Entertainment in the 1st quarter worth about $2,880,796,000. Capital Research Global Investors acquired a new position in Flutter Entertainment during the first quarter worth $2,418,032,000. Vanguard Group Inc. bought a new position in Flutter Entertainment during the first quarter valued at about $1,578,442,000. Hsbc Holdings PLC boosted its stake in shares of Flutter Entertainment by 10.9% during the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company's stock worth $1,131,079,000 after acquiring an additional 608,003 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of Flutter Entertainment during the 1st quarter valued at about $507,170,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Berenberg Bank upgraded Flutter Entertainment to a "strong-buy" rating in a research note on Tuesday, August 27th. JMP Securities upped their price objective 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. Craig Hallum lifted their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They issued an "overweight" rating and a $247.00 target price for the company. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $296.08.

Flutter Entertainment Stock Down 1.5 %

Shares of NYSE:FLUT traded down $3.95 during trading on Tuesday, hitting $263.05. 1,025,660 shares of the company's stock were exchanged, compared to its average volume of 1,141,280. The firm has a 50-day moving average price of $234.90 and a two-hundred day moving average price of $210.86. Flutter Entertainment plc has a 1-year low of $150.65 and a 1-year high of $269.90.

Flutter Entertainment declared that its board has initiated a stock buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.