BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys New Holdings in Flutter Entertainment plc (NYSE:FLUT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 29,648 shares of the company’s stock, valued at approximately $7,035,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment in the second quarter worth $37,000. CWM LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth about $40,000. US Bancorp DE grew its position in 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 purchasing an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $82,000. Finally, Hilltop National Bank purchased a new stake in shares of Flutter Entertainment in the second quarter worth about $101,000.

Flutter Entertainment Stock Up 1.1 %

Shares of FLUT opened at $276.32 on Monday. Flutter Entertainment plc has a 52-week low of $150.65 and a 52-week high of $279.04. The firm’s fifty day moving average is $243.32 and its two-hundred day moving average is $215.19.

Flutter Entertainment declared that its board has authorized a share 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 repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America began coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price target for the company. Moffett Nathanson increased their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. BTIG Research raised their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Barclays lifted 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. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $298.79.

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.