Canton Hathaway LLC Buys Shares of 1,010 Flutter Entertainment plc (NYSE:FLUT)

Canton Hathaway LLC purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,010 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLUT. Blue Whale Capital LLP raised its stake in Flutter Entertainment by 46.6% in the third quarter. Blue Whale Capital LLP now owns 157,743 shares of the company’s stock valued at $37,429,000 after buying an additional 50,123 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $410,000. Cerity Partners LLC increased its holdings in shares of Flutter Entertainment by 99.3% during the third quarter. Cerity Partners LLC now owns 2,583 shares of the company’s stock valued at $613,000 after acquiring an additional 1,287 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Flutter Entertainment by 11,727.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 622,501 shares of the company’s stock valued at $147,707,000 after purchasing an additional 617,238 shares during the last quarter. Finally, Brown Capital Management LLC grew its position in Flutter Entertainment by 0.3% during the 3rd quarter. Brown Capital Management LLC now owns 269,783 shares of the company’s stock worth $64,014,000 after purchasing an additional 792 shares during the last quarter.

Flutter Entertainment Trading Up 0.4 %

FLUT opened at $276.68 on Monday. The firm has a fifty day moving average price of $238.69 and a 200 day moving average price of $212.74. Flutter Entertainment plc has a 1 year low of $150.65 and a 1 year high of $276.68.

Flutter Entertainment announced that its board has approved a share buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLUT. UBS Group initiated coverage on shares of Flutter Entertainment in a research note on Friday, November 8th. They set a “buy” rating and a $306.00 price target on the stock. Oppenheimer upped their target price on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Moffett Nathanson lifted their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays boosted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC lifted their target price on Flutter Entertainment from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $297.79.

About Flutter Entertainment

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.