UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 45,703 Shares of Flutter Entertainment plc (NYSE:FLUT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Flutter Entertainment plc (NYSE:FLUT) by 15.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 253,350 shares of the company’s stock after selling 45,703 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Flutter Entertainment were worth $60,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in Flutter Entertainment in the 3rd quarter worth approximately $849,474,000. Bank of Montreal Can grew its holdings in shares of Flutter Entertainment by 868.5% in the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after purchasing an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC increased its position in Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter. Marathon Asset Management Ltd purchased a new stake in Flutter Entertainment during the third quarter valued at $451,631,000. Finally, AustralianSuper Pty Ltd bought a new position in Flutter Entertainment during the third quarter valued at $228,313,000.

Flutter Entertainment Trading Up 0.6 %

Shares of FLUT opened at $277.86 on Tuesday. The company has a 50-day moving average of $244.29 and a 200 day moving average of $215.69. Flutter Entertainment plc has a 1-year low of $152.77 and a 1-year high of $279.04.

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

Wall Street Analyst Weigh In

FLUT has been the topic of a number of research reports. The Goldman Sachs Group began coverage on shares of Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price on the stock. Moffett Nathanson boosted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Craig Hallum boosted their target price on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Oppenheimer raised their price target on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $298.79.

About Flutter Entertainment

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.