Groupe la Francaise Purchases Shares of 11,813 Flutter Entertainment PLC $FLUT

Groupe la Francaise acquired a new position in Flutter Entertainment PLC (NYSE:FLUT) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,813 shares of the company’s stock, valued at approximately $3,376,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Flutter Entertainment by 402.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after purchasing an additional 13,822,673 shares in the last quarter. Norges Bank bought a new stake in shares of Flutter Entertainment during the second quarter valued at approximately $930,349,000. BNP Paribas Financial Markets raised its position in shares of Flutter Entertainment by 196.5% during the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock valued at $441,916,000 after buying an additional 1,322,016 shares during the last quarter. Nuveen LLC purchased a new position in shares of Flutter Entertainment in the first quarter worth $289,627,000. Finally, Geode Capital Management LLC boosted its position in shares of Flutter Entertainment by 57.4% during the second quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock worth $877,583,000 after acquiring an additional 1,122,892 shares during the last quarter.

Flutter Entertainment Trading Up 1.6%

Shares of FLUT stock opened at $211.43 on Thursday. The company has a market cap of $37.06 billion, a PE ratio of -162.64 and a beta of 1.92. Flutter Entertainment PLC has a 1 year low of $189.33 and a 1 year high of $313.68. The stock’s 50 day simple moving average is $230.99 and its two-hundred day simple moving average is $264.30. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Flutter Entertainment declared that its board has approved a stock repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Canaccord Genuity Group reduced their target price on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Truist Financial dropped their price target on Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Oppenheimer cut their price target on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, Citizens Jmp lifted their price objective on Flutter Entertainment from $340.00 to $345.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.53.

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.