Flutter Entertainment plc (NYSE:FLUT) Shares Bought by Philosophy Capital Management LLC

Philosophy Capital Management LLC raised its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 123.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after acquiring an additional 55,279 shares during the period. Flutter Entertainment makes up about 1.9% of Philosophy Capital Management LLC’s portfolio, making the stock its 12th biggest position. Philosophy Capital Management LLC owned about 0.06% of Flutter Entertainment worth $23,728,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FLUT. Massachusetts Financial Services Co. MA acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $849,474,000. Bank of Montreal Can grew its position in Flutter Entertainment by 868.5% during the third 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 during the period. Cantillon Capital Management LLC increased its holdings in Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock valued at $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Marathon Asset Management Ltd acquired a new position in shares of Flutter Entertainment in the third quarter worth about $451,631,000. Finally, AustralianSuper Pty Ltd purchased a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $228,313,000.

Flutter Entertainment Stock Up 1.7 %

Shares of NYSE FLUT opened at $282.64 on Wednesday. Flutter Entertainment plc has a twelve month low of $152.77 and a twelve month high of $282.71. The stock has a fifty day simple moving average of $245.38 and a 200-day simple moving average of $216.22.

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

Analysts Set New Price Targets

FLUT has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. JMP Securities increased their target price on Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Barclays increased their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. BTIG Research upped their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Fifteen research 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, the company currently has a consensus rating of “Buy” and an average target price of $298.79.

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.