Boston Partners Grows Holdings in Flutter Entertainment PLC $FLUT

Boston Partners grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 15.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,011 shares of the company’s stock after purchasing an additional 652 shares during the quarter. Boston Partners’ holdings in Flutter Entertainment were worth $1,432,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FLUT. Bank of New York Mellon Corp lifted its stake in Flutter Entertainment by 120.1% in the second quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock worth $129,924,000 after acquiring an additional 248,109 shares during the period. Jefferies Financial Group Inc. raised its holdings in shares of Flutter Entertainment by 5.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 18,163 shares of the company’s stock valued at $3,995,000 after purchasing an additional 928 shares in the last quarter. Gunderson Capital Management Inc. lifted its position in shares of Flutter Entertainment by 17.8% in the 2nd quarter. Gunderson Capital Management Inc. now owns 15,646 shares of the company’s stock worth $4,471,000 after purchasing an additional 2,364 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $1,700,000. Finally, Corton Capital Inc. bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $556,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FLUT. Barclays reduced their price objective on shares of Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Bank of America reissued a “neutral” rating and issued a $250.00 price target (down from $325.00) on shares of Flutter Entertainment in a research report on Tuesday, November 4th. Macquarie raised their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Benchmark cut their target price on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Finally, Sanford C. Bernstein decreased their price target on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.84.

Flutter Entertainment Trading Up 4.0%

Flutter Entertainment stock opened at $208.00 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $36.46 billion, a PE ratio of 102.46 and a beta of 1.84. The stock has a 50-day moving average of $235.52 and a two-hundred day moving average of $265.24. Flutter Entertainment PLC has a one year low of $189.33 and a one year high of $313.68.

Flutter Entertainment announced that its board has approved a share repurchase program on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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.