CWA Asset Management Group LLC Sells 2,948 Shares of Flutter Entertainment plc (NYSE:FLUT)

CWA Asset Management Group LLC trimmed its stake in Flutter Entertainment plc (NYSE:FLUT) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,315 shares of the company’s stock after selling 2,948 shares during the period. CWA Asset Management Group LLC’s holdings in Flutter Entertainment were worth $9,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new position in shares of Flutter Entertainment in the third quarter worth approximately $24,464,000. Sanctuary Advisors LLC purchased a new position in Flutter Entertainment in the third quarter valued at about $802,000. Virtu Financial LLC lifted its holdings in shares of Flutter Entertainment by 56.2% during the 3rd quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock valued at $1,749,000 after purchasing an additional 2,652 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in Flutter Entertainment by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock worth $1,306,000 after acquiring an additional 181 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter valued at approximately $436,599,000.

Flutter Entertainment Trading Up 0.7 %

Shares of Flutter Entertainment stock traded up $1.71 during trading on Monday, hitting $258.47. 221,993 shares of the company’s stock traded hands, compared to its average volume of 736,801. The business has a 50-day simple moving average of $261.20 and a 200-day simple moving average of $228.24. Flutter Entertainment plc has a 1 year low of $158.43 and a 1 year high of $284.79.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Susquehanna boosted their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday, November 13th. Benchmark raised their price target on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price target on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Bank of America started coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 target price for the company. Sixteen research 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, Flutter Entertainment currently has an average rating of “Buy” and a consensus price target of $302.33.

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.