TOMS Capital Investment Management LP Grows Holdings in Flutter Entertainment plc (NYSE:FLUT)

TOMS Capital Investment Management LP increased its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 370,269 shares of the company’s stock after purchasing an additional 42,705 shares during the quarter. Flutter Entertainment accounts for 3.3% of TOMS Capital Investment Management LP’s holdings, making the stock its 6th biggest holding. TOMS Capital Investment Management LP owned approximately 0.21% of Flutter Entertainment worth $87,857,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FLUT. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment during the 3rd quarter valued at $849,474,000. Bank of Montreal Can lifted its holdings in shares of Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after buying an additional 3,019,376 shares during the period. Cantillon Capital Management LLC lifted its holdings in shares of Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after buying an additional 2,336,347 shares during the period. Marathon Asset Management Ltd purchased a new stake in shares of Flutter Entertainment in the 3rd quarter worth $451,631,000. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Flutter Entertainment in the 3rd quarter worth $228,313,000.

Flutter Entertainment Stock Up 1.1 %

Shares of NYSE:FLUT opened at $276.32 on Monday. The business’s 50-day moving average is $243.32 and its 200 day moving average is $215.19. Flutter Entertainment plc has a 1 year low of $150.65 and a 1 year high of $279.04.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Benchmark upped their target price on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Oppenheimer upped their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley began coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective for the company. Finally, JMP Securities upped their price objective on Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $298.79.

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.