Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Kingfisher Capital LLC

Kingfisher Capital LLC trimmed its stake in Flutter Entertainment plc (NYSE:FLUT) by 5.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,096 shares of the company’s stock after selling 597 shares during the quarter. Kingfisher Capital LLC’s holdings in Flutter Entertainment were worth $2,633,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Rothschild Investment LLC purchased a new position in Flutter Entertainment in the 2nd quarter worth about $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment during the second quarter valued at approximately $40,000. US Bancorp DE raised its holdings 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 acquiring an additional 99 shares during the period. Venturi Wealth Management LLC purchased a new position in Flutter Entertainment during the 3rd quarter worth approximately $82,000. Finally, Hilltop National Bank acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $101,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Benchmark lifted their price target on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley initiated 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. UBS Group raised their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays upped their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna lifted their target price on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research note on Wednesday, November 13th. Fifteen investment 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, the company presently has an average rating of “Buy” and an average price target of $298.79.

Flutter Entertainment Stock Down 0.9 %

Shares of Flutter Entertainment stock opened at $273.33 on Friday. Flutter Entertainment plc has a 12-month low of $150.65 and a 12-month high of $279.04. The stock has a 50 day moving average price of $242.43 and a two-hundred day moving average price of $214.57.

Flutter Entertainment declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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.