Flutter Entertainment plc (NYSE:FLUT) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP lifted its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 53.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,629 shares of the company’s stock after purchasing an additional 171,685 shares during the period. Flutter Entertainment accounts for 1.8% of Artemis Investment Management LLP’s portfolio, making the stock its 6th largest holding. Artemis Investment Management LLP owned 0.28% of Flutter Entertainment worth $116,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors acquired a new stake in Flutter Entertainment during the 1st quarter worth approximately $2,880,796,000. Capital Research Global Investors bought a new stake in shares of Flutter Entertainment in the first quarter valued at about $2,418,032,000. Vanguard Group Inc. acquired a new position in shares of Flutter Entertainment in the first quarter valued at about $1,578,442,000. Capital International Investors bought a new position in Flutter Entertainment during the first quarter worth about $507,170,000. Finally, Marshall Wace LLP boosted its holdings in Flutter Entertainment by 339.2% in the 2nd quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock valued at $196,354,000 after purchasing an additional 831,585 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FLUT shares. BTIG Research raised their price target on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Needham & Company LLC initiated coverage on shares of Flutter Entertainment in a report on Monday, September 23rd. They issued a “buy” rating and a $270.00 target price on the stock. Oppenheimer upped their price target on shares of Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective for the company. Finally, Moffett Nathanson raised their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $264.36.

Flutter Entertainment Stock Up 0.2 %

FLUT stock opened at $235.98 on Wednesday. Flutter Entertainment plc has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The stock’s 50 day simple moving average is $213.89 and its 200 day simple moving average is $201.58.

Flutter Entertainment (NYSE:FLUT) last posted its 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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, sell-side 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 share buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are 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.