Brown Capital Management LLC Purchases 792 Shares of Flutter Entertainment plc (NYSE:FLUT)

Brown Capital Management LLC raised its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,783 shares of the company’s stock after purchasing an additional 792 shares during the quarter. Flutter Entertainment makes up approximately 1.4% of Brown Capital Management LLC’s portfolio, making the stock its 26th largest holding. Brown Capital Management LLC owned 0.15% of Flutter Entertainment worth $64,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake 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 buying an additional 99 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Flutter Entertainment by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after acquiring an additional 136 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Flutter Entertainment in the second quarter worth $37,000. Finally, CWM LLC purchased a new position in shares of Flutter Entertainment in the second quarter valued at $40,000.

Flutter Entertainment Trading Down 0.0 %

FLUT opened at $263.37 on Thursday. The stock has a 50-day moving average price of $236.65 and a 200-day moving average price of $211.69. Flutter Entertainment plc has a 12-month low of $150.65 and a 12-month high of $269.90.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley started coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Craig Hallum boosted their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. BTIG Research increased their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Bank of America started coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They set a “buy” rating and a $300.00 price target for the company. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $296.08.

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.