Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 66.9% during the 3rd quarter, Holdings Channel reports. The firm owned 33,973 shares of the company’s stock after selling 68,680 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flutter Entertainment were worth $8,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in Flutter Entertainment during the second quarter worth approximately $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth $40,000. US Bancorp DE raised its position in shares of Flutter Entertainment by 71.7% during the third 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. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the third quarter worth $82,000. Finally, Hilltop National Bank purchased a new stake in shares of Flutter Entertainment during the second quarter valued at $101,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays boosted their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JMP Securities boosted their price target on shares of Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Oppenheimer raised their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. UBS Group boosted their target price on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Benchmark raised their target price on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $298.79.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $276.32 on Monday. The stock’s 50 day moving average price is $243.32 and its 200 day moving average price is $215.19. Flutter Entertainment plc has a 52 week low of $150.65 and a 52 week high of $279.04.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership 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.