Scientech Research LLC purchased a new position in Flutter Entertainment plc (NYSE:FLUT – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 5,447 shares of the company’s stock, valued at approximately $993,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $2,880,796,000. Capital Research Global Investors purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $2,418,032,000. Vanguard Group Inc. purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $1,578,442,000. Hsbc Holdings PLC boosted its holdings in Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock worth $1,131,079,000 after acquiring an additional 608,003 shares during the period. Finally, Capital International Investors purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $507,170,000.
Flutter Entertainment Price Performance
FLUT stock opened at $238.33 on Friday. Flutter Entertainment plc has a 12-month low of $148.00 and a 12-month high of $252.84. The stock’s 50 day simple moving average is $208.64 and its 200 day simple moving average is $200.99.
Flutter Entertainment announced that its Board of Directors has authorized a stock buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Benchmark upped their price target on Flutter Entertainment from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum increased their target price on Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $255.00 target price on shares of Flutter Entertainment in a research note on Thursday. Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. 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. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $260.45.
View Our Latest Report on FLUT
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.
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