Proficio Capital Partners LLC Boosts Position in Flutter Entertainment plc (NYSE:FLUT)

Proficio Capital Partners LLC increased its holdings in Flutter Entertainment plc (NYSE:FLUT) by 5.2% in the third quarter, HoldingsChannel.com reports. The fund owned 8,840 shares of the company’s stock after acquiring an additional 440 shares during the period. Proficio Capital Partners LLC’s holdings in Flutter Entertainment were worth $2,098,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FLUT. US Bancorp DE lifted its position in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Bleakley Financial Group LLC boosted its position in Flutter Entertainment by 4.6% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in Flutter Entertainment by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $37,000. Finally, CWM LLC bought a new position in shares of Flutter Entertainment in the 2nd quarter worth approximately $40,000.

Flutter Entertainment Price Performance

Shares of FLUT opened at $248.04 on Friday. Flutter Entertainment plc has a twelve month low of $148.00 and a twelve month high of $252.84. The firm has a 50 day moving average of $229.28 and a 200 day moving average of $207.63.

Flutter Entertainment (NYSE:FLUT) last issued 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 business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, equities research analysts predict 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 program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on FLUT. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group initiated coverage on shares of Flutter Entertainment in a report on Friday. They set a “buy” rating and a $306.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price target on shares of Flutter Entertainment in a research note on Wednesday, October 30th. Morgan Stanley started coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target for the company. Finally, Needham & Company LLC started coverage on shares of Flutter Entertainment in a report on Monday, September 23rd. They issued a “buy” rating and a $270.00 price objective on the stock. Fourteen 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 stock presently has an average rating of “Buy” and an average target price of $278.23.

Flutter Entertainment 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.