TOMS Capital Investment Management LP Buys 42,705 Shares of Flutter Entertainment plc (NYSE:FLUT)

TOMS Capital Investment Management LP increased its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 13.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,269 shares of the company’s stock after acquiring an additional 42,705 shares during the period. Flutter Entertainment comprises 3.3% of TOMS Capital Investment Management LP’s holdings, making the stock its 6th largest position. TOMS Capital Investment Management LP’s holdings in Flutter Entertainment were worth $87,857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. US Bancorp DE grew its holdings in Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after acquiring an additional 99 shares during the period. Bleakley Financial Group LLC grew its holdings in Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock worth $737,000 after acquiring an additional 136 shares during the period. Assenagon Asset Management S.A. boosted its position in Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after purchasing an additional 170 shares in the last quarter. Rothschild Investment LLC purchased a new position in Flutter Entertainment during the second quarter worth approximately $37,000. Finally, CWM LLC purchased a new position in Flutter Entertainment during the second quarter worth approximately $40,000.

Flutter Entertainment Stock Up 1.1 %

NYSE:FLUT opened at $276.32 on Monday. Flutter Entertainment plc has a one year low of $150.65 and a one year high of $279.04. The stock has a 50 day moving average price of $243.32 and a 200 day moving average price of $215.19.

Flutter Entertainment announced that its board has approved a stock repurchase plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BTIG Research increased their price target on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a research report on Friday, November 22nd. They set a “buy” rating and a $320.00 price target on the stock. Moffett Nathanson increased their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Oppenheimer increased their price target on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Benchmark increased their price target on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $298.79.

About Flutter Entertainment

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.