Flutter Entertainment plc (NYSE:FLUT) Stake Raised by Cantillon Capital Management LLC

Cantillon Capital Management LLC grew its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 3,827.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,397,384 shares of the company’s stock after buying an additional 2,336,347 shares during the period. Flutter Entertainment accounts for 3.5% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Cantillon Capital Management LLC owned approximately 1.35% of Flutter Entertainment worth $568,851,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment during the 2nd quarter valued at about $40,000. US Bancorp DE lifted 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 worth $56,000 after acquiring an additional 99 shares during the period. Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment in the third quarter valued at approximately $82,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment during the second quarter worth approximately $101,000.

Flutter Entertainment Stock Up 0.6 %

Flutter Entertainment stock opened at $267.05 on Tuesday. The stock’s 50 day moving average is $233.95 and its 200-day moving average is $210.32. Flutter Entertainment plc has a 12 month low of $150.65 and a 12 month high of $269.90.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Moffett Nathanson lifted their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays upped their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Oppenheimer raised their target price on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America assumed coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective for the company. Finally, Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus target price of $296.08.

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.