Flutter Entertainment plc (NYSE:FLUT) is Susquehanna International Group Ltd.’s 8th Largest Position

Susquehanna International Group Ltd. increased its position in Flutter Entertainment plc (NYSE:FLUT) by 124.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,534 shares of the company’s stock after purchasing an additional 31,322 shares during the quarter. Flutter Entertainment accounts for 2.6% of Susquehanna International Group Ltd.’s portfolio, making the stock its 8th largest position. Susquehanna International Group Ltd.’s holdings in Flutter Entertainment were worth $10,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FLUT. Hollencrest Capital Management acquired a new stake in Flutter Entertainment in the first quarter valued at $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the second quarter valued at $37,000. CWM LLC acquired a new stake in Flutter Entertainment in the second quarter valued at $40,000. YHB Investment Advisors Inc. acquired a new stake in Flutter Entertainment in the first quarter valued at $45,000. Finally, Hilltop National Bank acquired a new stake in Flutter Entertainment in the second quarter valued at $101,000.

Analyst Ratings Changes

Several research firms recently issued reports on FLUT. Craig Hallum upped their price target on shares of Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays upped their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Finally, Benchmark increased their target price on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Buy” and an average price target of $260.45.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $238.33 on Friday. The company has a 50-day simple moving average of $208.64 and a 200-day simple moving average of $200.99. Flutter Entertainment plc has a one year low of $148.00 and a one year high of $252.84.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, research analysts predict that Flutter Entertainment plc will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership 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.