Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Position in Flutter Entertainment plc (NYSE:FLUT)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 16,384 shares of the company’s stock, valued at approximately $3,888,000.

A number of other institutional investors have also recently added to or reduced their stakes in FLUT. Capital World Investors bought a new stake in shares of Flutter Entertainment during the 1st quarter worth about $2,880,796,000. Capital Research Global Investors acquired a new position in Flutter Entertainment during the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. acquired a new position in Flutter Entertainment during the first quarter valued at approximately $1,578,442,000. Capital International Investors bought a new position in shares of Flutter Entertainment in the first quarter valued at approximately $507,170,000. Finally, Marathon Asset Management Ltd bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth $451,631,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FLUT. Benchmark reiterated a “buy” rating and issued a $265.00 target price on shares of Flutter Entertainment in a report on Monday, October 14th. JMP Securities boosted their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Barclays increased their target price on Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Oppenheimer lifted their price target on Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, BTIG Research increased their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $275.92.

Flutter Entertainment Stock Down 1.0 %

Shares of FLUT stock opened at $232.33 on Monday. The stock’s fifty day simple moving average is $221.60 and its 200 day simple moving average is $203.32. Flutter Entertainment plc has a one year low of $148.00 and a one year high of $252.84.

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

Flutter Entertainment announced that its board has approved a stock buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are 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.