Marshall Wace LLP Buys 831,585 Shares of Flutter Entertainment plc (NYSE:FLUT)

Marshall Wace LLP lifted its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 339.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,076,739 shares of the company’s stock after acquiring an additional 831,585 shares during the period. Marshall Wace LLP owned approximately 0.61% of Flutter Entertainment worth $196,354,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Samlyn Capital LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth $62,932,000. Farallon Capital Management LLC bought a new stake in Flutter Entertainment in the second quarter worth $36,618,000. Bank of Montreal Can lifted its stake in Flutter Entertainment by 12.2% in the second quarter. Bank of Montreal Can now owns 347,646 shares of the company’s stock worth $63,397,000 after purchasing an additional 37,793 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Flutter Entertainment in the second quarter valued at about $3,158,000. Finally, Public Sector Pension Investment Board increased its position in shares of Flutter Entertainment by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 74,545 shares of the company’s stock valued at $13,631,000 after acquiring an additional 4,278 shares during the period.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of analyst reports. BTIG Research boosted their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, August 14th. Oppenheimer boosted their price objective on shares of Flutter Entertainment from $240.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Barclays initiated coverage on shares of Flutter Entertainment in a research report on Thursday, September 12th. They issued an “overweight” rating and a $263.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target on the stock. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $248.80.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $229.62 on Tuesday. The company’s 50-day simple moving average is $206.62 and its 200 day simple moving average is $200.34. Flutter Entertainment plc has a one year low of $148.00 and a one year high of $234.54.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, equities research analysts anticipate that Flutter Entertainment plc will post 4.75 EPS for the current year.

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.