Capstone Investment Advisors LLC Purchases 519 Shares of Flutter Entertainment plc (NYSE:FLUT)

Capstone Investment Advisors LLC boosted its position in Flutter Entertainment plc (NYSE:FLUT) by 37.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,896 shares of the company’s stock after acquiring an additional 519 shares during the period. Capstone Investment Advisors LLC’s holdings in Flutter Entertainment were worth $450,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FLUT. Massachusetts Financial Services Co. MA bought a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $849,474,000. Bank of Montreal Can grew its stake in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after buying an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC raised its holdings in Flutter Entertainment by 3,827.8% during the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock valued at $568,851,000 after acquiring an additional 2,336,347 shares during the period. Marathon Asset Management Ltd purchased a new stake in shares of Flutter Entertainment during the third quarter worth $451,631,000. Finally, AustralianSuper Pty Ltd bought a new position in shares of Flutter Entertainment in the third quarter worth $228,313,000.

Analyst Ratings Changes

FLUT has been the topic of a number of recent research reports. BTIG Research increased their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group increased their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday. Craig Hallum raised their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Oppenheimer raised their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Trading Up 1.2 %

FLUT opened at $276.57 on Friday. The stock has a 50-day moving average price of $243.32 and a 200-day moving average price of $215.07. Flutter Entertainment plc has a 12-month low of $150.65 and a 12-month high of $279.04.

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.

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.