UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Flutter Entertainment plc (NYSE:FLUT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,350 shares of the company's stock after selling 45,703 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Flutter Entertainment worth $60,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $849,474,000. Bank of Montreal Can grew its position in shares of Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock worth $798,927,000 after buying an additional 3,019,376 shares during the period. Cantillon Capital Management LLC increased its stake in shares of 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 acquiring an additional 2,336,347 shares during the last quarter. Marathon Asset Management Ltd acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $451,631,000. Finally, AustralianSuper Pty Ltd bought a new position in Flutter Entertainment during the 3rd quarter worth approximately $228,313,000.

Flutter Entertainment Stock Up 1.7 %

Shares of FLUT traded up $4.64 during trading hours on Tuesday, reaching $282.64. The stock had a trading volume of 1,279,850 shares, compared to its average volume of 1,155,529. The company's 50-day moving average is $244.29 and its two-hundred day moving average is $215.69. Flutter Entertainment plc has a 12 month low of $152.77 and a 12 month high of $282.71.

Flutter Entertainment announced that its board has approved a share repurchase program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. UBS Group increased their target price on Flutter Entertainment from $308.00 to $320.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Moffett Nathanson lifted their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. JMP Securities increased their price objective on shares of Flutter Entertainment from $287.00 to $299.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 13th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a research report on Tuesday, August 27th. 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 has an average rating of "Buy" and an average target price of $298.79.

Flutter Entertainment 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.