Capstone Investment Advisors LLC Boosts Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Capstone Investment Advisors LLC lifted its stake in Flutter Entertainment plc (NYSE:FLUT) by 37.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,896 shares of the company’s stock after buying an additional 519 shares during the period. Capstone Investment Advisors LLC’s holdings in Flutter Entertainment were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rothschild Investment LLC bought a new stake in Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at about $40,000. US Bancorp DE boosted 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 worth $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Flutter Entertainment during the third quarter worth about $82,000. Finally, Hilltop National Bank bought a new stake in shares of Flutter Entertainment in the second quarter worth about $101,000.

Flutter Entertainment Trading Up 1.2 %

FLUT stock opened at $276.57 on Friday. The firm has a 50 day moving average price of $243.32 and a 200-day moving average price of $215.07. Flutter Entertainment plc has a 52-week low of $150.65 and a 52-week high of $279.04.

Flutter Entertainment announced that its board has approved a stock buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on FLUT shares. Benchmark upped their price target on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays upped their target price on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America started coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price target on the stock. BTIG Research upped their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 target price on the stock. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $298.79.

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.