Maven Securities LTD Purchases New Position in Flutter Entertainment plc (NYSE:FLUT)

Maven Securities LTD acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,900 shares of the company’s stock, valued at approximately $894,000.

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

Flutter Entertainment Trading Down 0.6 %

Shares of NYSE:FLUT opened at $235.92 on Wednesday. The firm’s 50 day simple moving average is $210.72 and its 200 day simple moving average is $201.05. Flutter Entertainment plc has a fifty-two week low of $148.00 and a fifty-two week high of $252.84.

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 the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. Sell-side analysts predict that Flutter Entertainment plc will post 4.75 EPS for the current year.

Flutter Entertainment declared that its board has initiated a share buyback program on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of research reports. Benchmark upped their target price on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Oppenheimer increased their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Morgan Stanley began coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 target price for the company. BTIG Research upped their price target on Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Needham & Company LLC started coverage on Flutter Entertainment in a research report on Monday, September 23rd. They issued a “buy” rating and a $270.00 price objective for the company. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $260.45.

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.