Clarius Group LLC Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Clarius Group LLC purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 822 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently added to or reduced their stakes in FLUT. Massachusetts Financial Services Co. MA acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at approximately $849,474,000. FMR LLC raised its holdings in Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock worth $794,362,000 after purchasing an additional 393,122 shares during the last quarter. Bank of Montreal Can boosted its position in Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after purchasing an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock valued at $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter. Finally, Marathon Asset Management Ltd acquired a new position in shares of Flutter Entertainment during the 3rd quarter worth $451,631,000.

Analyst Ratings Changes

FLUT has been the topic of several recent research reports. Benchmark upped their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. UBS Group raised their price target on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group began coverage on Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Susquehanna decreased their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Seventeen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $304.44.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $263.03 on Tuesday. The company has a 50 day moving average of $266.03 and a two-hundred day moving average of $233.92. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $284.79. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.