Flutter Entertainment plc (NYSE:FLUT) Shares Bought by Axa S.A.

Axa S.A. lifted its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,896 shares of the company’s stock after acquiring 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $40,000. YHB Investment Advisors Inc. purchased a new stake in Flutter Entertainment during the 1st quarter worth $45,000. Finally, Financial Perspectives Inc acquired a new position in Flutter Entertainment in the 1st quarter worth $102,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLUT shares. Morgan Stanley started coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. Moffett Nathanson upped their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JMP Securities reiterated a “market outperform” rating and set a $255.00 target price on shares of Flutter Entertainment in a research note on Thursday, September 26th. Barclays lifted their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $260.45.

Flutter Entertainment Stock Down 0.6 %

Shares of NYSE:FLUT opened at $235.92 on Wednesday. Flutter Entertainment plc has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The firm has a 50-day simple moving average of $210.07 and a 200 day simple moving average of $200.91.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share 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 analyst estimates of $3.41 billion. As a group, analysts expect that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared 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 shares. This buyback authorization permits the company to buy up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Flutter Entertainment Company 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.