HighTower Advisors LLC Raises Stock Position in Flutter Entertainment plc (NYSE:FLUT)

HighTower Advisors LLC grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 25.3% during the third quarter, Holdings Channel reports. The firm owned 5,249 shares of the company’s stock after purchasing an additional 1,061 shares during the quarter. HighTower Advisors LLC’s holdings in Flutter Entertainment were worth $1,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in Flutter Entertainment during the second quarter worth about $37,000. CWM LLC purchased a new stake in Flutter Entertainment during the second quarter worth about $40,000. US Bancorp DE increased its stake in Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment during the third quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Flutter Entertainment during the third quarter worth about $190,000.

Analyst Ratings Changes

A number of analysts recently weighed in on FLUT shares. Bank of America started coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 target price on the stock. UBS Group upped their target price on shares of 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 upped their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Susquehanna upped their target price on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday, November 13th. Finally, Macquarie started coverage on shares of Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price on the stock. Sixteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $301.53.

Flutter Entertainment Stock Down 0.6 %

NYSE FLUT opened at $275.96 on Tuesday. Flutter Entertainment plc has a 1-year low of $158.43 and a 1-year high of $284.79. The business’s 50-day simple moving average is $251.79 and its 200-day simple moving average is $220.54.

Flutter Entertainment announced 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 outstanding shares. This buyback authorization authorizes the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.