Massachusetts Financial Services Co. MA Acquires Shares of 3,580,047 Flutter Entertainment plc (NYSE:FLUT)

Massachusetts Financial Services Co. MA bought a new stake in Flutter Entertainment plc (NYSE:FLUT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,580,047 shares of the company’s stock, valued at approximately $849,474,000. Massachusetts Financial Services Co. MA owned 2.02% of Flutter Entertainment as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth $37,000. CWM LLC bought a new stake in Flutter Entertainment in the second quarter valued at about $40,000. US Bancorp DE increased its holdings in 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 purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at about $82,000. Finally, Hilltop National Bank bought a new position in Flutter Entertainment during the second quarter worth about $101,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLUT. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Craig Hallum increased their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Susquehanna boosted their price target on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday, November 13th. Oppenheimer raised their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, UBS Group initiated coverage on Flutter Entertainment in a research note on Friday, November 8th. They issued a “buy” rating and a $306.00 target price for the company. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $296.08.

Flutter Entertainment Stock Up 1.7 %

Flutter Entertainment stock opened at $267.98 on Friday. The company has a fifty day simple moving average of $236.65 and a 200 day simple moving average of $211.69. Flutter Entertainment plc has a 1-year low of $150.65 and a 1-year high of $270.95.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often 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.