Nomura Asset Management Co. Ltd. Buys New Stake in Flutter Entertainment plc (NYSE:FLUT)

Nomura Asset Management Co. Ltd. purchased a new position in Flutter Entertainment plc (NYSE:FLUT) in the third quarter, Holdings Channel reports. The fund purchased 49,800 shares of the company’s stock, valued at approximately $11,817,000.

A number of other hedge funds also recently bought and sold shares of FLUT. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the second quarter worth $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $40,000. US Bancorp DE raised its position in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at approximately $82,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Flutter Entertainment in the third quarter worth approximately $190,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Moffett Nathanson lifted their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Bank of America assumed coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 target price for the company. Macquarie began coverage on shares of Flutter Entertainment in a research note on Wednesday. They issued an “outperform” rating and a $340.00 price target on the stock. UBS Group increased their price objective on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, 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. Sixteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Buy” and a consensus target price of $301.53.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $277.53 on Thursday. The stock’s fifty day moving average is $250.06 and its two-hundred day moving average is $219.13. Flutter Entertainment plc has a 1-year low of $158.43 and a 1-year high of $284.79.

Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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.