Squarepoint Ops LLC Purchases New Stake in Flutter Entertainment plc (NYSE:FLUT)

Squarepoint Ops LLC acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 153,329 shares of the company’s stock, valued at approximately $27,961,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in shares of Flutter Entertainment during the first quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $40,000. YHB Investment Advisors Inc. purchased a new position in shares of Flutter Entertainment during the 1st quarter valued at $45,000. Finally, Financial Perspectives Inc acquired a new position in shares of Flutter Entertainment in the first quarter worth $102,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FLUT. Needham & Company LLC initiated coverage on Flutter Entertainment in a research report on Monday. They set a “buy” rating and a $270.00 price objective for the company. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Flutter Entertainment in a report on Wednesday, August 14th. Barclays initiated coverage on shares of Flutter Entertainment in a research report on Thursday, September 12th. They set an “overweight” rating and a $263.00 price objective on the stock. Finally, Oppenheimer boosted their target price on shares of Flutter Entertainment from $240.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One 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’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and a consensus price target of $248.80.

Flutter Entertainment Stock Up 5.1 %

NYSE FLUT opened at $239.84 on Thursday. Flutter Entertainment plc has a 1 year low of $148.00 and a 1 year high of $252.84. The company has a fifty day simple moving average of $207.75 and a 200 day simple moving average of $200.69.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect 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 approved a stock buyback program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally an indication 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.