Hiddenite Capital Partners LP Purchases Shares of 21,000 Flutter Entertainment plc (NYSE:FLUT)

by · The Markets Daily

Hiddenite Capital Partners LP purchased a new stake in Flutter Entertainment plc (NYSE:FLUT – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,000 shares of the company’s stock, valued at approximately $4,983,000. Flutter Entertainment makes up 1.6% of Hiddenite Capital Partners LP’s holdings, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $2,880,796,000. Capital Research Global Investors acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $2,418,032,000. Vanguard Group Inc. acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $1,578,442,000. Capital International Investors acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $507,170,000. Finally, Marathon Asset Management Ltd acquired a new position in shares of Flutter Entertainment during the third quarter worth approximately $451,631,000.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of research reports. Moffett Nathanson upped their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America assumed coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Oppenheimer increased their price objective on shares of Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Benchmark restated a “buy” rating and issued a $265.00 price objective on shares of Flutter Entertainment in a report on Monday, October 14th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $295.00 price objective on shares of Flutter Entertainment in a report on Wednesday, October 30th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus price target of $282.54.

View Our Latest Analysis on FLUT

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $248.30 on Wednesday. The firm has a fifty day moving average of $230.06 and a 200-day moving average of $208.23. Flutter Entertainment plc has a 12-month low of $148.30 and a 12-month high of $252.84.

Flutter Entertainment (NYSE:FLUT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. Research analysts anticipate that Flutter Entertainment plc will post 4.72 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a share repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

About Flutter Entertainment

(Free Report)

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.

Further Reading

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