Worldquant Millennium Advisors LLC Acquires Shares of 13,700 Flutter Entertainment plc (NYSE:FLUT)

Worldquant Millennium Advisors LLC acquired a new position in Flutter Entertainment plc (NYSE:FLUT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,700 shares of the company's stock, valued at approximately $3,251,000.

Other hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $37,000. CWM LLC bought a new stake in Flutter Entertainment during the 2nd quarter valued at $40,000. US Bancorp DE raised its holdings in Flutter Entertainment by 71.7% during the 3rd 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 bought a new stake in Flutter Entertainment during the 3rd quarter valued at $82,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Flutter Entertainment during the 3rd quarter valued at $190,000.

Flutter Entertainment Trading Down 3.2 %

Flutter Entertainment stock traded down $8.84 during midday trading on Monday, hitting $271.54. The stock had a trading volume of 2,045,493 shares, compared to its average volume of 1,162,655. The firm's fifty day moving average is $247.70 and its two-hundred day moving average is $217.72. Flutter Entertainment plc has a 52-week low of $158.43 and a 52-week high of $284.79.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. UBS Group boosted their price objective on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Bank of America began coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They set a "buy" rating and a $300.00 price objective on the stock. Needham & Company LLC boosted their price objective on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Moffett Nathanson boosted their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $298.79.

Flutter Entertainment Company 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.