Sora Investors LLC Makes New Investment in Flutter Entertainment plc (NYSE:FLUT)

Sora Investors LLC acquired a new stake in shares of Flutter Entertainment plc (NYSE:FLUT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 45,000 shares of the company’s stock, valued at approximately $10,678,000. Flutter Entertainment makes up about 1.9% of Sora Investors LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of Flutter Entertainment during the second quarter worth approximately $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment during the second quarter worth $40,000. US Bancorp DE raised its position in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment in the third quarter valued at about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Flutter Entertainment in the third quarter worth about $190,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark increased their price objective on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Craig Hallum lifted their price target on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America began coverage on Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 target price for the company. Susquehanna increased their price target on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday, November 13th. Finally, Barclays raised their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $279.80 on Friday. The firm has a 50 day moving average of $246.86 and a two-hundred day moving average of $217.10. Flutter Entertainment plc has a 52 week low of $158.43 and a 52 week high of $282.71.

Flutter Entertainment announced that its Board of Directors has authorized a stock buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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.