Flutter Entertainment plc (NYSE:FLUT) Shares Bought by Forsta AP Fonden

Forsta AP Fonden grew its holdings in Flutter Entertainment plc (NYSE:FLUT) by 82.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,400 shares of the company’s stock after acquiring an additional 16,876 shares during the period. Forsta AP Fonden’s holdings in Flutter Entertainment were worth $8,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Capital World Investors acquired a new position in Flutter Entertainment during the 1st quarter worth $2,880,796,000. Capital Research Global Investors acquired a new position in shares of Flutter Entertainment during the first quarter worth about $2,418,032,000. Vanguard Group Inc. purchased a new stake in shares of Flutter Entertainment during the first quarter worth approximately $1,578,442,000. Capital International Investors acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $507,170,000. Finally, Marathon Asset Management Ltd purchased a new position in Flutter Entertainment in the third quarter worth approximately $451,631,000.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $224.92 on Monday. The company’s 50 day simple moving average is $224.42 and its 200-day simple moving average is $204.34. Flutter Entertainment plc has a 12-month low of $148.00 and a 12-month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, analysts expect that Flutter Entertainment plc will post 4.75 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on shares of Flutter Entertainment from $230.00 to $273.00 and gave the company a “positive” rating in a research report on Monday, October 7th. Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Craig Hallum lifted their price target on Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Bank of America initiated coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Needham & Company LLC started coverage on Flutter Entertainment in a research note on Monday, September 23rd. They set a “buy” rating and a $270.00 target price for the company. Thirteen equities research 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 stock has a consensus rating of “Buy” and an average target price of $275.92.

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.