MML Investors Services LLC Has $843,000 Holdings in Flutter Entertainment plc (NYSE:FLUT)

MML Investors Services LLC lifted its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 10.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,552 shares of the company’s stock after acquiring an additional 350 shares during the quarter. MML Investors Services LLC’s holdings in Flutter Entertainment were worth $843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates boosted its stake in shares of Flutter Entertainment by 10.0% during the third quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock valued at $4,354,000 after purchasing an additional 1,663 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Flutter Entertainment during the 3rd quarter worth approximately $3,888,000. GSA Capital Partners LLP grew its holdings in Flutter Entertainment by 48.3% during the 3rd quarter. GSA Capital Partners LLP now owns 12,034 shares of the company’s stock worth $2,855,000 after acquiring an additional 3,922 shares during the last quarter. Ovata Capital Management Ltd acquired a new position in Flutter Entertainment in the 2nd quarter valued at approximately $2,413,000. Finally, Hiddenite Capital Partners LP bought a new position in shares of Flutter Entertainment during the third quarter valued at $4,983,000.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $264.78 on Friday. Flutter Entertainment plc has a 52 week low of $158.43 and a 52 week high of $284.79. The stock has a 50 day moving average price of $255.25 and a two-hundred day moving average price of $222.83.

Flutter Entertainment announced that its Board of Directors has approved a share buyback plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several recent research reports. Macquarie initiated coverage on Flutter Entertainment in a report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price on the stock. Craig Hallum upped their target price on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Benchmark raised their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Barclays lifted their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Sixteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $301.53.

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.