Flutter Entertainment plc (NYSE:FLUT) Short Interest Update

Flutter Entertainment plc (NYSE:FLUT) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 3,340,000 shares, a growth of 58.3% from the August 31st total of 2,110,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 1,920,000 shares, the short-interest ratio is currently 1.7 days.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at $1,272,000. Nordea Investment Management AB purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth about $1,656,000. Capital International Ltd. CA purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth about $2,180,000. Swiss National Bank purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at about $119,485,000. Finally, Vanguard Group Inc. acquired a new position in Flutter Entertainment in the 1st quarter worth about $1,578,442,000.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $238.33 on Friday. Flutter Entertainment has a 1 year low of $148.00 and a 1 year high of $252.84. The company has a fifty day moving average of $209.39 and a 200 day moving average of $201.13.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. As a group, analysts predict that Flutter Entertainment will post 4.75 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Moffett Nathanson increased their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark raised their price target on Flutter Entertainment from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer lifted their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday. BTIG Research increased their target price on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Needham & Company LLC initiated coverage on shares of Flutter Entertainment in a research note on Monday, September 23rd. They set a “buy” rating and a $270.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Buy” and an average price target of $260.45.

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.