26,804 Shares in Flutter Entertainment plc (NYSE:FLUT) Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 26,804 shares of the company’s stock, valued at approximately $4,888,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLUT. Artemis Investment Management LLP purchased a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $29,611,000. Allspring Global Investments Holdings LLC acquired a new stake in Flutter Entertainment during the 1st quarter valued at $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Flutter Entertainment during the first quarter worth $70,371,000. Financial Perspectives Inc acquired a new position in shares of Flutter Entertainment in the first quarter worth $102,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Flutter Entertainment in the first quarter valued at $45,000.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $243.95 on Friday. The firm has a fifty day moving average of $207.75 and a 200-day moving average of $200.69. Flutter Entertainment plc has a 52-week low of $148.00 and a 52-week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, analysts anticipate that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FLUT shares. Barclays lifted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC began coverage on shares of Flutter Entertainment in a research report on Monday. They issued a “buy” rating and a $270.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Benchmark lifted their target price on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JMP Securities reissued a “market outperform” rating and set a $255.00 price target on shares of Flutter Entertainment in a research note on Thursday. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $260.45.

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.