Royal London Asset Management Ltd. Boosts Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Royal London Asset Management Ltd. raised its holdings in Flutter Entertainment plc (NYSE:FLUT) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 139,110 shares of the company’s stock after acquiring an additional 9,509 shares during the period. Royal London Asset Management Ltd.’s holdings in Flutter Entertainment were worth $33,008,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of FLUT. US Bancorp DE grew its stake in Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after acquiring an additional 136 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC purchased a new position in Flutter Entertainment during the second quarter valued at approximately $37,000. Finally, CWM LLC purchased a new position in Flutter Entertainment during the second quarter valued at approximately $40,000.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $279.80 on Friday. Flutter Entertainment plc has a fifty-two week low of $158.43 and a fifty-two week high of $282.71. The firm has a 50 day moving average price of $246.86 and a 200-day moving average price of $217.10.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FLUT shares. Morgan Stanley started coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective for the company. Bank of America started coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price objective for the company. Benchmark boosted their price objective on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Moffett Nathanson lifted their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus target price of $298.79.

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.