Flutter Entertainment plc (NYSE:FLUT) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC decreased its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,315 shares of the company’s stock after selling 2,948 shares during the quarter. CWA Asset Management Group LLC’s holdings in Flutter Entertainment were worth $9,906,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FLUT. US Bancorp DE lifted its holdings in shares of Flutter Entertainment by 71.7% in 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 during the period. Venturi Wealth Management LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter valued at approximately $82,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $190,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Flutter Entertainment by 93.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock worth $197,000 after buying an additional 520 shares in the last quarter. Finally, Seelaus Asset Management LLC acquired a new stake in Flutter Entertainment during the third quarter valued at $204,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FLUT shares. Macquarie began coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an “outperform” rating and a $340.00 price objective on the stock. BTIG Research raised their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 11th. Moffett Nathanson lifted their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC boosted their target price on Flutter Entertainment from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Susquehanna raised their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday, November 13th. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $302.33.

Flutter Entertainment Trading Up 0.7 %

NYSE:FLUT traded up $1.71 on Monday, hitting $258.47. 221,993 shares of the company’s stock were exchanged, compared to its average volume of 736,801. The firm has a 50-day moving average price of $261.20 and a 200-day moving average price of $228.24. Flutter Entertainment plc has a 52 week low of $158.43 and a 52 week high of $284.79.

Flutter Entertainment announced that its board has authorized a stock buyback program on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.