Inlet Private Wealth LLC Buys 875 Shares of Flutter Entertainment plc (NYSE:FLUT)

Inlet Private Wealth LLC boosted its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,842 shares of the company’s stock after acquiring an additional 875 shares during the period. Flutter Entertainment accounts for about 1.4% of Inlet Private Wealth LLC’s portfolio, making the stock its 24th biggest position. Inlet Private Wealth LLC’s holdings in Flutter Entertainment were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors bought a new stake in Flutter Entertainment during the first quarter worth $2,880,796,000. Capital Research Global Investors acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at approximately $2,418,032,000. Vanguard Group Inc. bought a new stake in shares of Flutter Entertainment during the 1st quarter valued at approximately $1,578,442,000. Capital International Investors acquired a new position in Flutter Entertainment during the 1st quarter worth approximately $507,170,000. Finally, Marshall Wace LLP boosted its stake in shares of Flutter Entertainment by 339.2% during the second quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock valued at $196,354,000 after purchasing an additional 831,585 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FLUT shares. Moffett Nathanson lifted 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. Oppenheimer upped their price target on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Bank of America began coverage on Flutter Entertainment in a research note on Monday. They issued a “buy” rating and a $300.00 price objective on the stock. JMP Securities boosted their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a report on Monday. Finally, Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $275.92.

Flutter Entertainment Stock Up 2.2 %

FLUT stock traded up $4.91 during midday trading on Thursday, hitting $232.90. The company’s stock had a trading volume of 836,200 shares, compared to its average volume of 1,066,248. The stock’s 50-day moving average price is $219.93 and its 200 day moving average price is $202.74. Flutter Entertainment plc has a 1 year low of $148.00 and a 1 year high of $252.84.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. Analysts expect that Flutter Entertainment plc will post 4.75 EPS for the current year.

Flutter Entertainment declared that its board has authorized a share repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

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.