Metis Global Partners LLC Sells 592 Shares of Flutter Entertainment plc (NYSE:FLUT)

Metis Global Partners LLC lessened its holdings in Flutter Entertainment plc (NYSE:FLUT) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,171 shares of the company’s stock after selling 592 shares during the quarter. Metis Global Partners LLC’s holdings in Flutter Entertainment were worth $1,227,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FLUT. Capital World Investors acquired a new position in shares of Flutter Entertainment during the first quarter worth $2,880,796,000. Capital Research Global Investors bought a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $2,418,032,000. Vanguard Group Inc. acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $1,578,442,000. Hsbc Holdings PLC raised its position in shares of Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock worth $1,131,079,000 after acquiring an additional 608,003 shares during the last quarter. Finally, Capital International Investors acquired a new position in shares of Flutter Entertainment in the first quarter worth approximately $507,170,000.

Flutter Entertainment Price Performance

Shares of FLUT opened at $265.45 on Friday. Flutter Entertainment plc has a 52 week low of $149.00 and a 52 week high of $269.90. The stock has a 50 day moving average price of $233.95 and a two-hundred day moving average price of $210.01.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

FLUT has been the subject of several analyst reports. Moffett Nathanson raised their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group initiated coverage on Flutter Entertainment in a report on Friday, November 8th. They set a “buy” rating and a $306.00 price target for the company. Needham & Company LLC upped their target price on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays lifted their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Benchmark raised their price objective on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $296.08.

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.