Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its stake in Flutter Entertainment plc (NYSE:FLUT) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,761 shares of the company’s stock after selling 99 shares during the period. Orion Portfolio Solutions LLC’s holdings in Flutter Entertainment were worth $418,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raymond James & Associates grew its holdings in Flutter Entertainment by 10.0% during the 3rd quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock valued at $4,354,000 after purchasing an additional 1,663 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Flutter Entertainment during the third quarter valued at about $3,888,000. GSA Capital Partners LLP increased its position in shares of Flutter Entertainment by 48.3% during the third quarter. GSA Capital Partners LLP now owns 12,034 shares of the company’s stock worth $2,855,000 after acquiring an additional 3,922 shares during the last quarter. Ovata Capital Management Ltd acquired a new position in shares of Flutter Entertainment in the second quarter worth about $2,413,000. Finally, Hiddenite Capital Partners LP purchased a new position in Flutter Entertainment in the third quarter valued at about $4,983,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLUT shares. The Goldman Sachs Group initiated coverage on Flutter Entertainment in a report on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC raised their price objective on shares of Flutter Entertainment from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. BTIG Research upped their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, UBS Group lifted their price target on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Sixteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $301.53.

Flutter Entertainment Price Performance

Shares of FLUT opened at $265.41 on Thursday. Flutter Entertainment plc has a 1 year low of $158.43 and a 1 year high of $284.79. The firm has a fifty day moving average of $253.93 and a 200-day moving average of $222.04.

Flutter Entertainment declared that its board has approved a stock repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.