Sei Investments Co. Purchases 2,833 Shares of Flutter Entertainment plc (NYSE:FLUT)

Sei Investments Co. grew its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 10.6% in the second quarter, Holdings Channel.com reports. The firm owned 29,585 shares of the company’s stock after buying an additional 2,833 shares during the period. Sei Investments Co.’s holdings in Flutter Entertainment were worth $5,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Blue Whale Capital LLP bought a new position in Flutter Entertainment in the 2nd quarter worth approximately $19,626,000. DCF Advisers LLC purchased a new stake in shares of Flutter Entertainment during the second quarter worth $584,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Flutter Entertainment by 93.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock worth $197,000 after acquiring an additional 520 shares during the period. XTX Topco Ltd bought a new position in shares of Flutter Entertainment in the second quarter worth $3,199,000. Finally, Hsbc Holdings PLC grew its position in shares of Flutter Entertainment by 10.9% in the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after purchasing an additional 608,003 shares in the last quarter.

Flutter Entertainment Trading Down 0.5 %

Shares of NYSE:FLUT opened at $237.17 on Tuesday. Flutter Entertainment plc has a 52-week low of $148.00 and a 52-week high of $252.84. The firm has a fifty day moving average of $209.39 and a 200 day moving average of $200.81.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, equities analysts anticipate that Flutter Entertainment plc will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLUT. Needham & Company LLC assumed coverage on Flutter Entertainment in a report on Monday, September 23rd. They set a “buy” rating and a $270.00 price objective on the stock. Susquehanna increased their price target on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a report on Wednesday, August 14th. Craig Hallum boosted their price objective on shares of Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays increased their target price on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target for the company. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $260.45.

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.