Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in Flutter Entertainment plc (NYSE:FLUT) by 15.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 265,196 shares of the company’s stock after selling 50,003 shares during the quarter. Janus Henderson Group PLC’s holdings in Flutter Entertainment were worth $62,536,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. HighTower Advisors LLC increased its position in shares of Flutter Entertainment by 25.3% in the third quarter. HighTower Advisors LLC now owns 5,249 shares of the company’s stock worth $1,245,000 after acquiring an additional 1,061 shares in the last quarter. Holocene Advisors LP increased its position in shares of Flutter Entertainment by 143.5% in the third quarter. Holocene Advisors LP now owns 441,146 shares of the company’s stock worth $104,675,000 after acquiring an additional 259,962 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Flutter Entertainment in the third quarter worth $216,000. Benjamin Edwards Inc. purchased a new position in shares of Flutter Entertainment in the third quarter valued at $279,000. Finally, TOMS Capital Investment Management LP boosted its stake in shares of Flutter Entertainment by 13.0% in the third quarter. TOMS Capital Investment Management LP now owns 370,269 shares of the company’s stock valued at $87,857,000 after purchasing an additional 42,705 shares during the period.

Flutter Entertainment Stock Up 0.6 %

FLUT stock opened at $279.80 on Friday. Flutter Entertainment plc has a fifty-two week low of $158.43 and a fifty-two week high of $282.71. The firm’s 50-day simple moving average is $246.86 and its 200 day simple moving average is $217.10.

Flutter Entertainment announced that its board has authorized a share buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLUT. Moffett Nathanson upped their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a research note on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price for the company. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. UBS Group increased their price objective 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, Bank of America assumed coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price objective on the stock. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $298.79.

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.