AustralianSuper Pty Ltd Buys New Position in Flutter Entertainment plc (NYSE:FLUT)

AustralianSuper Pty Ltd acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 962,210 shares of the company’s stock, valued at approximately $228,313,000. Flutter Entertainment makes up about 1.1% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also recently bought and sold shares of FLUT. Hollencrest Capital Management acquired a new stake in Flutter Entertainment during the 1st quarter valued at approximately $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $37,000. CWM LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $40,000. US Bancorp DE grew its position in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after acquiring an additional 99 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment in the 2nd quarter worth approximately $101,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on FLUT. JMP Securities boosted their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. Benchmark restated a “buy” rating and set a $265.00 price objective on shares of Flutter Entertainment in a research report on Monday, October 14th. Susquehanna boosted their price objective on Flutter Entertainment from $230.00 to $273.00 and gave the company a “positive” rating in a research report on Monday, October 7th. Craig Hallum boosted their price objective on Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $275.92.

Flutter Entertainment Trading Down 1.5 %

Shares of Flutter Entertainment stock traded down $3.56 during trading on Thursday, hitting $233.24. The stock had a trading volume of 328,073 shares, compared to its average volume of 1,081,712. The business has a fifty day moving average of $225.76 and a two-hundred day moving average of $205.16. Flutter Entertainment plc has a fifty-two week low of $148.00 and a fifty-two week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. On average, equities analysts forecast that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is 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.