Kingfisher Capital LLC Sells 597 Shares of Flutter Entertainment plc (NYSE:FLUT)

Kingfisher Capital LLC cut its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 5.1% in the third quarter, Holdings Channel reports. The institutional investor owned 11,096 shares of the company’s stock after selling 597 shares during the quarter. Kingfisher Capital LLC’s holdings in Flutter Entertainment were worth $2,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FLUT. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $40,000. US Bancorp DE lifted its stake in shares of Flutter Entertainment by 71.7% in the third 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 acquired a new stake in Flutter Entertainment during the third quarter worth about $82,000. Finally, Hilltop National Bank bought a new position in Flutter Entertainment during the second quarter valued at about $101,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Bank of America started coverage on Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective for the company. JMP Securities raised their target price on Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their price target 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. Morgan Stanley began coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective for the company. Finally, BTIG Research lifted their target price 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. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $273.33 on Friday. The business’s fifty day moving average is $242.43 and its two-hundred day moving average is $214.57. Flutter Entertainment plc has a 52 week low of $150.65 and a 52 week high of $279.04.

Flutter Entertainment declared that its Board of Directors has authorized a share buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase 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.