Flutter Entertainment plc (NYSE:FLUT) Holdings Lifted by Axa S.A.

Axa S.A. grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 10.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,896 shares of the company’s stock after purchasing an additional 678 shares during the quarter. Axa S.A.’s holdings in Flutter Entertainment were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FLUT. Acadian Asset Management LLC acquired a new stake in Flutter Entertainment in the 1st quarter valued at approximately $1,272,000. Nordea Investment Management AB acquired a new position in shares of Flutter Entertainment during the first quarter valued at $1,656,000. Capital International Ltd. CA bought a new stake in shares of Flutter Entertainment during the first quarter valued at about $2,180,000. Swiss National Bank acquired a new stake in Flutter Entertainment in the first quarter worth about $119,485,000. Finally, Vanguard Group Inc. bought a new position in Flutter Entertainment in the 1st quarter valued at about $1,578,442,000.

Flutter Entertainment Price Performance

Shares of FLUT opened at $235.92 on Wednesday. The business’s 50-day moving average price is $210.07 and its 200 day moving average price is $200.91. Flutter Entertainment plc has a 1-year low of $148.00 and a 1-year high of $252.84.

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

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

Analyst Upgrades and Downgrades

A number of analysts have commented on FLUT shares. Benchmark boosted their price target on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Susquehanna boosted their target price on Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a report on Wednesday, August 14th. Morgan Stanley started coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target for the company. Oppenheimer boosted their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC initiated 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of “Buy” and a consensus target price of $260.45.

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.