The Manufacturers Life Insurance Company lessened its position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) by 88.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,635 shares of the company's stock after selling 65,267 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Flutter Entertainment were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company's stock valued at $1,131,079,000 after buying an additional 608,003 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment in the 3rd quarter valued at $849,474,000. Bank of Montreal Can boosted its stake in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock valued at $798,927,000 after buying an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC boosted its stake in Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock valued at $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Finally, Marathon Asset Management Ltd acquired a new stake in Flutter Entertainment in the 3rd quarter valued at $451,631,000.
Flutter Entertainment Stock Up 1.2 %
Shares of FLUT stock traded up $3.19 on Tuesday, hitting $274.71. 1,349,051 shares of the stock were exchanged, compared to its average volume of 1,163,438. The business has a 50-day moving average of $248.39 and a 200 day moving average of $218.22. Flutter Entertainment plc has a fifty-two week low of $158.43 and a fifty-two week high of $284.79.
Flutter Entertainment declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Barclays boosted their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group started coverage on Flutter Entertainment in a research report on Friday, November 22nd. They set a "buy" rating and a $320.00 target price for the company. Craig Hallum upped their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Susquehanna upped their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the company a "positive" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $298.79.
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Flutter Entertainment Company 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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