Charles Schwab Investment Management Inc. Purchases 617,238 Shares of Flutter Entertainment plc (NYSE:FLUT)

Charles Schwab Investment Management Inc. boosted its position in Flutter Entertainment plc (NYSE:FLUT) by 11,727.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622,501 shares of the company’s stock after acquiring an additional 617,238 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Flutter Entertainment were worth $147,707,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Capital Management LLC boosted its holdings in shares of Flutter Entertainment by 0.3% in the 3rd quarter. Brown Capital Management LLC now owns 269,783 shares of the company’s stock valued at $64,014,000 after purchasing an additional 792 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment in the third quarter valued at about $849,474,000. Anthracite Investment Company Inc. bought a new position in Flutter Entertainment in the third quarter valued at about $2,847,000. Cantillon Capital Management LLC raised its stake in Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after acquiring an additional 2,336,347 shares in the last quarter. Finally, Seelaus Asset Management LLC bought a new position in shares of Flutter Entertainment in the third quarter worth about $204,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Bank of America started 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 for the company. Needham & Company LLC upped their price target 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. Oppenheimer raised their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. UBS Group initiated coverage on Flutter Entertainment in a report on Friday, November 8th. They issued a “buy” rating and a $306.00 target price for the company. Finally, Benchmark lifted their price target on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $297.79.

Flutter Entertainment Stock Up 3.3 %

NYSE:FLUT opened at $275.52 on Monday. Flutter Entertainment plc has a 52 week low of $150.65 and a 52 week high of $275.63. The firm’s fifty day moving average is $238.69 and its 200-day moving average is $212.65.

Flutter Entertainment announced that its board has approved a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors 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.