Tokio Marine Asset Management Co. Ltd. Makes New $1.32 Million Investment in Flutter Entertainment plc (NYSE:FLUT)

Tokio Marine Asset Management Co. Ltd. acquired a new stake in Flutter Entertainment plc (NYSE:FLUT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,548 shares of the company’s stock, valued at approximately $1,316,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FLUT. Rothschild Investment LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $37,000. CWM LLC acquired a new position in Flutter Entertainment during the 2nd quarter worth approximately $40,000. US Bancorp DE grew its stake 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 acquiring an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new stake in Flutter Entertainment in the 3rd quarter valued at $82,000. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $101,000.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $265.44 on Friday. Flutter Entertainment plc has a 12 month low of $149.00 and a 12 month high of $269.90. The firm’s 50 day moving average is $232.91 and its 200 day moving average is $209.47.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, equities research analysts predict that Flutter Entertainment plc will post 4.65 earnings per share for the current year.

Flutter Entertainment announced that its board has initiated a stock 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 repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America assumed coverage on Flutter Entertainment in a report on Monday, October 14th. They set a “buy” rating and a $300.00 price target for the company. Benchmark upped their price objective on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 note on Wednesday. Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $296.08.

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.