Franklin Resources Inc. Lowers Holdings in Flutter Entertainment plc (NYSE:FLUT)

Franklin Resources Inc. reduced its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 3.6% in the 3rd quarter, Holdings Channel reports. The fund owned 47,012 shares of the company’s stock after selling 1,742 shares during the period. Franklin Resources Inc.’s holdings in Flutter Entertainment were worth $10,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. US Bancorp DE increased its holdings in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares in the last quarter. Bleakley Financial Group LLC grew its position in Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after buying an additional 136 shares during the period. Hohimer Wealth Management LLC increased its holdings in Flutter Entertainment by 3.4% in the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after buying an additional 181 shares in the last quarter. M&T Bank Corp raised its position in shares of Flutter Entertainment by 11.3% in the third quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock worth $469,000 after acquiring an additional 203 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $37,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JMP Securities upped their price target on Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Macquarie began coverage on Flutter Entertainment in a research report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price on the stock. Benchmark boosted their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. UBS Group upped their price objective 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. Finally, Needham & Company LLC lifted their target price on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Sixteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $301.53.

Flutter Entertainment Trading Up 1.3 %

Shares of Flutter Entertainment stock opened at $264.78 on Friday. The business’s 50 day moving average price is $255.25 and its 200 day moving average price is $223.05. Flutter Entertainment plc has a one year low of $158.43 and a one year high of $284.79.

Flutter Entertainment declared that its board has approved a stock repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are 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.