Allspring Global Investments Holdings LLC Has $593,000 Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Allspring Global Investments Holdings LLC reduced its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 97.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,514 shares of the company’s stock after selling 93,453 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Flutter Entertainment were worth $593,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Flutter Entertainment during the 1st quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth approximately $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $40,000. Hilltop National Bank acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $101,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Flutter Entertainment in the first quarter valued at approximately $130,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLUT. Morgan Stanley began coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective on shares of Flutter Entertainment in a report on Wednesday. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America began 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. Finally, JMP Securities raised their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $275.92.

Flutter Entertainment Stock Down 0.7 %

FLUT stock opened at $231.20 on Friday. The company has a fifty day moving average price of $226.63 and a two-hundred day moving average price of $205.68. Flutter Entertainment plc has a one year low of $148.00 and a one year high of $252.84.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. Research analysts forecast that Flutter Entertainment plc will post 4.75 EPS for the current year.

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

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.