Flutter Entertainment plc (NYSE:FLUT) Stock Holdings Boosted by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its stake in Flutter Entertainment plc (NYSE:FLUT) by 9.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 536,716 shares of the company’s stock after purchasing an additional 45,087 shares during the period. Flutter Entertainment makes up 2.0% of Artemis Investment Management LLP’s portfolio, making the stock its 4th largest position. Artemis Investment Management LLP’s holdings in Flutter Entertainment were worth $139,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLUT. Massachusetts Financial Services Co. MA acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $849,474,000. FMR LLC grew its position in Flutter Entertainment by 13.2% in the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after buying an additional 393,122 shares during the last quarter. Bank of Montreal Can increased its stake in Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after buying an additional 3,019,376 shares during the period. Cantillon Capital Management LLC raised its position in Flutter Entertainment by 3,827.8% during the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after buying an additional 2,336,347 shares during the last quarter. Finally, Marathon Asset Management Ltd acquired a new stake in shares of Flutter Entertainment in the 3rd quarter worth $451,631,000.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Craig Hallum boosted their target price on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group began coverage on Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 target price for the company. Barclays upped 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. Finally, Susquehanna reduced their target price on Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Seventeen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $304.44.

Flutter Entertainment Stock Performance

FLUT stock opened at $263.03 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $265.79 and its 200 day moving average price is $233.16. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $284.79.

Flutter Entertainment announced that its board has approved a share repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.