Verdence Capital Advisors LLC Buys New Shares in Flutter Entertainment plc (NYSE:FLUT)

Verdence Capital Advisors LLC bought a new stake in Flutter Entertainment plc (NYSE:FLUT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,366 shares of the company's stock, valued at approximately $561,000.

Other large investors have also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company's stock worth $56,000 after buying an additional 99 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company's stock valued at $737,000 after purchasing an additional 136 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company's stock worth $1,053,000 after purchasing an additional 170 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment in the second quarter valued at $37,000. Finally, CWM LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $40,000.

Flutter Entertainment Stock Up 0.6 %

FLUT stock traded up $1.53 on Monday, hitting $249.57. 1,102,997 shares of the company's stock traded hands, compared to its average volume of 1,103,849. Flutter Entertainment plc has a 1-year low of $148.30 and a 1-year high of $252.84. The stock has a fifty day moving average of $229.28 and a 200-day moving average of $207.78.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. Equities research analysts forecast that Flutter Entertainment plc will post 4.72 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has initiated a share buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock 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 commented on the company. BTIG Research boosted their price target on Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer increased their price objective on shares of Flutter Entertainment from $255.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Wells Fargo & Company restated an "overweight" rating and issued a $295.00 target price on shares of Flutter Entertainment in a research note on Wednesday, October 30th. Moffett Nathanson upped their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Craig Hallum boosted their price target on Flutter Entertainment from $240.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $282.54.

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.