abrdn plc Invests $224,000 in Flutter Entertainment plc (NYSE:FLUT)

abrdn plc purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) in the third quarter, Holdings Channel.com reports. The firm purchased 944 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds have also recently bought and sold shares of the business. Bleakley Financial Group LLC boosted its stake in shares of 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 buying an additional 136 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Flutter Entertainment by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after acquiring an additional 170 shares during the last quarter. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the 2nd quarter worth $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Flutter Entertainment by 93.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock valued at $197,000 after purchasing an additional 520 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on FLUT shares. Barclays boosted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Craig Hallum lifted their price objective on shares of Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JMP Securities increased their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a report on Monday, October 14th. Finally, Needham & Company LLC initiated coverage on shares of Flutter Entertainment in a report on Monday, September 23rd. They issued a “buy” rating and a $270.00 price target for the company. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $275.92.

Flutter Entertainment Stock Up 0.9 %

FLUT opened at $229.20 on Wednesday. The business’s 50 day moving average is $227.39 and its 200-day moving average is $206.63. Flutter Entertainment plc has a twelve month low of $148.00 and a twelve month high of $252.84.

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

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.