Dai ichi Life Insurance Company Ltd Sells 7,428 Shares of Flutter Entertainment plc (NYSE:FLUT)

Dai ichi Life Insurance Company Ltd lessened its position in Flutter Entertainment plc (NYSE:FLUT) by 65.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,972 shares of the company’s stock after selling 7,428 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Flutter Entertainment were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLUT. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $40,000. US Bancorp DE boosted its holdings in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $82,000. Finally, Hilltop National Bank bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $101,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Benchmark lifted their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Susquehanna lifted their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday, November 13th. Morgan Stanley started coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Moffett Nathanson lifted their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $273.33 on Friday. The firm has a 50 day moving average of $242.43 and a 200-day moving average of $214.57. Flutter Entertainment plc has a 12 month low of $150.65 and a 12 month high of $279.04.

Flutter Entertainment declared that its board has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are 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.