Vinva Investment Management Ltd Buys Shares of 1,638 Flutter Entertainment PLC $FLUT

Vinva Investment Management Ltd bought a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,638 shares of the company’s stock, valued at approximately $456,000.

A number of other hedge funds have also recently made changes to their positions in FLUT. ORG Partners LLC grew its stake in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new stake in Flutter Entertainment in the 2nd quarter worth about $29,000. SVB Wealth LLC purchased a new position in Flutter Entertainment in the 1st quarter worth about $27,000. Signaturefd LLC lifted its stake in Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after acquiring an additional 64 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after acquiring an additional 78 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLUT. Barclays decreased their price objective on shares of Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Tuesday. Wells Fargo & Company began coverage on Flutter Entertainment in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $272.00 price target on the stock. Needham & Company LLC reduced their price objective on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, JMP Securities dropped their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and an average price target of $310.84.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $208.00 on Friday. The stock has a market cap of $36.46 billion, a P/E ratio of 102.46 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $235.52 and its 200 day moving average is $265.13. Flutter Entertainment PLC has a one year low of $189.33 and a one year high of $313.68.

Flutter Entertainment declared that its board has authorized a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.