abrdn plc Buys Shares of 944 Flutter Entertainment plc (NYSE:FLUT)

abrdn plc purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 944 shares of the company’s stock, valued at approximately $224,000.

Several other large investors have also modified their holdings of FLUT. Rothschild Investment LLC purchased a new stake in Flutter Entertainment during the 2nd quarter worth about $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment in the second quarter valued at approximately $40,000. Hilltop National Bank acquired a new position in shares of Flutter Entertainment in the second quarter valued at approximately $101,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Flutter Entertainment during the first quarter worth approximately $130,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Flutter Entertainment in the 3rd quarter worth approximately $190,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Oppenheimer increased their price target on Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Barclays raised their price target on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. JMP Securities upped their price objective 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. Bank of America began coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, Craig Hallum upped their price target on shares of Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $275.92.

Flutter Entertainment Trading Up 0.9 %

Shares of NYSE FLUT opened at $229.20 on Wednesday. The stock has a fifty day moving average price of $227.39 and a 200 day moving average price of $206.63. Flutter Entertainment plc has a 12-month low of $148.00 and a 12-month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last posted its 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 company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, equities 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 authorized a stock repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.