Exchange Traded Concepts LLC lessened its holdings in Flutter Entertainment plc (NYSE:FLUT - Free Report) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,186 shares of the company's stock after selling 6,200 shares during the period. Exchange Traded Concepts LLC's holdings in Flutter Entertainment were worth $9,773,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in shares of Flutter Entertainment during the first quarter worth about $28,000. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment during the second quarter worth about $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the second quarter worth about $40,000. Hilltop National Bank bought a new stake in shares of Flutter Entertainment during the second quarter worth about $101,000. Finally, Financial Perspectives Inc bought a new stake in Flutter Entertainment in the first quarter valued at approximately $102,000.
Several analysts recently commented on the company. Benchmark upped their target price on Flutter Entertainment from $255.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Wells Fargo & Company upped their target price on Flutter Entertainment from $218.00 to $224.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. Morgan Stanley assumed coverage on Flutter Entertainment in a report on Thursday, August 22nd. They issued an "overweight" rating and a $247.00 target price on the stock. JMP Securities reiterated a "market outperform" rating and issued a $255.00 target price on shares of Flutter Entertainment in a report on Thursday, September 26th. Finally, Susquehanna boosted their price target on Flutter Entertainment from $230.00 to $273.00 and gave the company a "positive" rating in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $264.36.
Check Out Our Latest Stock Report on FLUT
Shares of NYSE:FLUT opened at $219.50 on Monday. Flutter Entertainment plc has a twelve month low of $148.00 and a twelve month high of $252.84. The stock's 50 day moving average is $217.13 and its 200-day moving average is $202.14.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. Equities analysts anticipate that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.
Flutter Entertainment announced that its board has approved a share repurchase plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.
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.
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