Oppenheimer & Co. Inc. Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Oppenheimer & Co. Inc. purchased a new position in Flutter Entertainment plc (NYSE:FLUT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,638 shares of the company’s stock, valued at approximately $863,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLUT. US Bancorp DE increased its position in Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Flutter Entertainment by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock worth $737,000 after acquiring an additional 136 shares during the period. Assenagon Asset Management S.A. lifted its position in Flutter Entertainment by 3.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after purchasing an additional 170 shares during the last quarter. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the 2nd quarter valued at about $37,000. Finally, CWM LLC bought a new position in Flutter Entertainment in the 2nd quarter worth about $40,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FLUT shares. Wells Fargo & Company lifted their price target on Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Susquehanna increased their price target on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday, November 13th. Craig Hallum raised their price target on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC upped their price objective on shares of Flutter Entertainment from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Stock Down 1.4 %

Shares of Flutter Entertainment stock opened at $263.39 on Wednesday. Flutter Entertainment plc has a 12-month low of $150.65 and a 12-month high of $269.90. The stock’s fifty day moving average is $234.90 and its 200-day moving average is $210.86.

Flutter Entertainment announced that its board has approved a share repurchase plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback 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.