National Bank of Canada FI Sells 16,074 Shares of Flutter Entertainment plc (NYSE:FLUT)

National Bank of Canada FI lowered its stake in Flutter Entertainment plc (NYSE:FLUT) by 12.3% in the third quarter, Holdings Channel reports. The fund owned 114,701 shares of the company’s stock after selling 16,074 shares during the quarter. National Bank of Canada FI’s holdings in Flutter Entertainment were worth $26,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FLUT. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment during the second quarter valued at about $40,000. US Bancorp DE boosted its stake in shares of 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 purchasing an additional 99 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Flutter Entertainment during the third quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $190,000.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of research reports. Barclays boosted their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna boosted their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday, November 13th. Morgan Stanley initiated coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. BTIG Research increased their price target on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $271.54 on Tuesday. Flutter Entertainment plc has a 52 week low of $158.43 and a 52 week high of $284.79. The business has a 50 day moving average price of $248.39 and a 200-day moving average price of $218.22.

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

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.