Vestcor Inc Buys New Stake in Flutter Entertainment plc (NYSE:FLUT)

Vestcor Inc bought a new stake in Flutter Entertainment plc (NYSE:FLUT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,433 shares of the company’s stock, valued at approximately $815,000.

Other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after buying an additional 608,003 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Flutter Entertainment in the third quarter worth $849,474,000. FMR LLC raised its position in shares of Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock worth $794,362,000 after purchasing an additional 393,122 shares during the period. Bank of Montreal Can grew 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 valued at $798,927,000 after acquiring an additional 3,019,376 shares in the last quarter. Finally, Cantillon Capital Management LLC increased its position in Flutter Entertainment by 3,827.8% during the third 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 last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $281.11 on Friday. The firm has a 50 day simple moving average of $250.99 and a 200-day simple moving average of $219.56. Flutter Entertainment plc has a 1-year low of $158.43 and a 1-year high of $284.79.

Flutter Entertainment announced that its board has authorized 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

FLUT has been the topic of a number of analyst reports. BTIG Research increased their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group lifted their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC raised their target price on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America started coverage on Flutter Entertainment in a research report on Monday, October 14th. They set a “buy” rating and a $300.00 price target for the company. Finally, Moffett Nathanson upped their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $301.53.

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.