Atomi Financial Group Inc. Invests $253,000 in Flutter Entertainment plc (NYSE:FLUT)

Atomi Financial Group Inc. purchased a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,067 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently modified their holdings of FLUT. Hollencrest Capital Management bought a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment in the 2nd quarter worth $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment in the second quarter worth $40,000. Hilltop National Bank bought a new position in Flutter Entertainment in the second quarter valued at about $101,000. Finally, Financial Perspectives Inc bought a new position in Flutter Entertainment in the first quarter valued at about $102,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of Flutter Entertainment from $230.00 to $273.00 and gave the stock a “positive” rating in a report on Monday, October 7th. Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective for the company. Benchmark raised their target price on Flutter Entertainment from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC assumed coverage on Flutter Entertainment in a research report on Monday, September 23rd. They issued a “buy” rating and a $270.00 price target for the company. Finally, Barclays lifted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $264.36.

Flutter Entertainment Price Performance

FLUT stock opened at $219.50 on Monday. The company’s fifty day moving average price is $217.13 and its 200-day moving average price is $202.14. 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 data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, analysts anticipate that Flutter Entertainment plc will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has initiated a share buyback 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Flutter Entertainment 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.