Flutter Entertainment plc (NYSE:FLUT) Shares Purchased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC grew its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 64.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Flutter Entertainment were worth $33,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FLUT. Commonwealth Equity Services LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $285,000. Envestnet Asset Management Inc. increased its holdings in shares of Flutter Entertainment by 1,725.9% during the second quarter. Envestnet Asset Management Inc. now owns 22,714 shares of the company’s stock valued at $4,145,000 after acquiring an additional 21,470 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Flutter Entertainment by 93.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock worth $197,000 after buying an additional 520 shares during the period. Sei Investments Co. increased its holdings in Flutter Entertainment by 10.6% in the 2nd quarter. Sei Investments Co. now owns 29,585 shares of the company’s stock worth $5,394,000 after buying an additional 2,833 shares during the period. Finally, Bank of Montreal Can increased its holdings in Flutter Entertainment by 12.2% in the 2nd quarter. Bank of Montreal Can now owns 347,646 shares of the company’s stock worth $63,397,000 after buying an additional 37,793 shares during the period.

Flutter Entertainment Trading Down 0.8 %

Shares of NYSE:FLUT opened at $266.93 on Thursday. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $284.79. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $266.45 and its 200-day moving average price is $234.44.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FLUT shares. BTIG Research increased their price target 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. Barclays increased their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna cut their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. JMP Securities increased their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th. Finally, Stifel Nicolaus initiated coverage on Flutter Entertainment in a research report on Friday, January 17th. They issued a “buy” rating and a $320.00 price objective on the stock. Seventeen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $304.44.

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.