Benson Investment Management Company Inc. Buys New Shares in Flutter Entertainment plc (NYSE:FLUT)

Benson Investment Management Company Inc. purchased a new position in Flutter Entertainment plc (NYSE:FLUT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,793 shares of the company’s stock, valued at approximately $5,116,000. Flutter Entertainment accounts for approximately 2.1% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE grew its stake in shares of Flutter Entertainment by 71.7% in the 3rd 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. Bleakley Financial Group LLC grew its stake in Flutter Entertainment by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after acquiring an additional 136 shares during the period. Hohimer Wealth Management LLC increased its stake in Flutter Entertainment by 3.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after purchasing an additional 181 shares in the last quarter. M&T Bank Corp raised its holdings in Flutter Entertainment by 11.3% during the third quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock worth $469,000 after buying an additional 203 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of Flutter Entertainment in the third quarter valued at $82,000.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent analyst reports. BTIG Research raised their price target 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. JMP Securities boosted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday, January 6th. Moffett Nathanson increased their price target on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Macquarie began coverage on Flutter Entertainment in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $340.00 target price for the company. Sixteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $303.40.

Flutter Entertainment Stock Up 1.1 %

NYSE FLUT opened at $256.79 on Tuesday. Flutter Entertainment plc has a twelve month low of $163.00 and a twelve month high of $284.79. The business has a 50-day moving average price of $264.16 and a 200-day moving average price of $231.45.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.