Bleakley Financial Group LLC Has $737,000 Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Bleakley Financial Group LLC increased its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,105 shares of the company’s stock after buying an additional 136 shares during the period. Bleakley Financial Group LLC’s holdings in Flutter Entertainment were worth $737,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors bought a new stake in shares of Flutter Entertainment during the first quarter worth $2,880,796,000. Capital Research Global Investors bought a new stake in Flutter Entertainment during the 1st quarter worth about $2,418,032,000. Vanguard Group Inc. acquired a new position in Flutter Entertainment during the 1st quarter valued at about $1,578,442,000. Capital International Investors bought a new position in shares of Flutter Entertainment in the 1st quarter valued at about $507,170,000. Finally, Marshall Wace LLP boosted its stake in shares of 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 last quarter.

Flutter Entertainment Stock Down 0.9 %

Shares of FLUT opened at $230.29 on Tuesday. The firm’s 50 day moving average price is $222.44 and its two-hundred day moving average price is $203.53. Flutter Entertainment plc has a twelve month low of $148.00 and a twelve month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced 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 company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, equities analysts forecast that Flutter Entertainment plc will post 4.75 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a stock buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $265.00 price objective on shares of Flutter Entertainment in a report on Monday, October 14th. Susquehanna increased their price target on Flutter Entertainment from $230.00 to $273.00 and gave the company a “positive” rating in a research note on Monday, October 7th. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays increased their target price on Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC assumed coverage on Flutter Entertainment in a research report on Monday, September 23rd. They set a “buy” rating and a $270.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and an average target price of $275.92.

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.