Exchange Traded Concepts LLC Sells 6,200 Shares of Flutter Entertainment plc (NYSE:FLUT)

Exchange Traded Concepts LLC lessened its holdings in Flutter Entertainment plc (NYSE:FLUT) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,186 shares of the company’s stock after selling 6,200 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Flutter Entertainment were worth $9,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of Flutter Entertainment during the 1st quarter worth $1,272,000. Nordea Investment Management AB purchased a new position in Flutter Entertainment during the 1st quarter valued at about $1,656,000. Capital International Ltd. CA purchased a new position in Flutter Entertainment during the 1st quarter valued at about $2,180,000. Swiss National Bank purchased a new position in Flutter Entertainment during the 1st quarter valued at about $119,485,000. Finally, Vanguard Group Inc. purchased a new position in Flutter Entertainment during the 1st quarter valued at about $1,578,442,000.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $219.50 on Monday. The business has a 50 day moving average of $217.13 and a 200 day moving average of $202.14. Flutter Entertainment plc has a 1-year low of $148.00 and a 1-year high of $252.84.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. Equities analysts predict that Flutter Entertainment plc will post 4.75 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a stock buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on FLUT. JMP Securities reaffirmed a “market outperform” rating and set a $255.00 target price on shares of Flutter Entertainment in a report on Thursday, September 26th. Moffett Nathanson lifted their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. BTIG Research lifted their target price on Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Oppenheimer lifted their price target on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $264.36.

Flutter Entertainment Company Profile

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.