Vontobel Holding Ltd. Boosts Holdings in Flutter Entertainment plc (NYSE:FLUT)

Vontobel Holding Ltd. increased its holdings in Flutter Entertainment plc (NYSE:FLUT) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,696,636 shares of the company’s stock after purchasing an additional 52,985 shares during the period. Flutter Entertainment accounts for 1.3% of Vontobel Holding Ltd.’s holdings, making the stock its 22nd biggest holding. Vontobel Holding Ltd. owned 0.96% of Flutter Entertainment worth $399,614,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Artemis Investment Management LLP purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth approximately $29,611,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth approximately $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth approximately $70,371,000. Financial Perspectives Inc bought a new position in shares of Flutter Entertainment during the 1st quarter valued at approximately $102,000. Finally, Yousif Capital Management LLC bought a new position in shares of Flutter Entertainment during the 1st quarter valued at approximately $649,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FLUT. BTIG Research boosted their target price on Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley initiated coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. JMP Securities upped their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research report on Monday. Barclays upped their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Oppenheimer upped their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $275.92.

Flutter Entertainment Trading Up 0.3 %

Flutter Entertainment stock traded up $0.76 during midday trading on Wednesday, reaching $226.72. The company’s stock had a trading volume of 342,872 shares, compared to its average volume of 1,063,276. The stock’s 50-day simple moving average is $218.99 and its 200-day simple moving average is $202.57. Flutter Entertainment plc has a 52-week low of $148.00 and a 52-week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, research analysts anticipate that Flutter Entertainment plc will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.