US Bancorp DE Buys 99 Shares of Flutter Entertainment plc (NYSE:FLUT)

US Bancorp DE grew its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 71.7% during the third quarter, HoldingsChannel reports. The firm owned 237 shares of the company’s stock after purchasing an additional 99 shares during the quarter. US Bancorp DE’s holdings in Flutter Entertainment were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in Flutter Entertainment in the first quarter worth $1,272,000. Capital International Ltd. CA bought a new position in Flutter Entertainment in the 1st quarter worth about $2,180,000. Vanguard Group Inc. bought a new position in Flutter Entertainment in the 1st quarter worth about $1,578,442,000. National Bank of Canada FI purchased a new stake in Flutter Entertainment during the 1st quarter valued at about $31,514,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Flutter Entertainment during the 1st quarter valued at about $22,498,000.

Flutter Entertainment Trading Down 0.6 %

FLUT opened at $265.45 on Monday. The business’s 50-day moving average is $233.95 and its two-hundred day moving average is $210.18. Flutter Entertainment plc has a 1 year low of $149.00 and a 1 year high of $269.90.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Susquehanna upped their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. Barclays increased their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Oppenheimer lifted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. Finally, BTIG Research lifted their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $296.08.

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.