Geode Capital Management LLC Purchases Shares of 1,846,865 Flutter Entertainment plc (NYSE:FLUT)

Geode Capital Management LLC purchased a new position in Flutter Entertainment plc (NYSE:FLUT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,846,865 shares of the company’s stock, valued at approximately $436,599,000. Geode Capital Management LLC owned 1.04% of Flutter Entertainment at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new position in Flutter Entertainment in the second quarter worth about $37,000. CWM LLC purchased a new position in Flutter Entertainment during the second quarter valued at approximately $40,000. US Bancorp DE raised its position in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after acquiring an additional 99 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Flutter Entertainment in the third quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Flutter Entertainment during the 3rd quarter worth approximately $190,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Macquarie initiated coverage on shares of Flutter Entertainment in a research report on Wednesday. They issued an “outperform” rating and a $340.00 price objective for the company. Barclays upped their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Susquehanna raised their price target on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. Moffett Nathanson boosted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group upped their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Sixteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $301.53.

Flutter Entertainment Stock Down 1.3 %

NYSE:FLUT opened at $277.51 on Friday. Flutter Entertainment plc has a one year low of $158.43 and a one year high of $284.79. The stock has a 50 day moving average price of $250.99 and a 200 day moving average price of $219.56.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans 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.