Maverick Capital Ltd. Has $51.90 Million Stock Position in Flutter Entertainment plc (NYSE:FLUT)

Maverick Capital Ltd. increased its stake in Flutter Entertainment plc (NYSE:FLUT) by 716.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 218,733 shares of the company’s stock after acquiring an additional 191,929 shares during the quarter. Maverick Capital Ltd.’s holdings in Flutter Entertainment were worth $51,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLUT. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC purchased a new stake in Flutter Entertainment during the 2nd quarter worth about $40,000. US Bancorp DE lifted its holdings in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment during the 3rd quarter worth about $82,000. Finally, Hilltop National Bank purchased a new stake in Flutter Entertainment during the 2nd quarter worth about $101,000.

Flutter Entertainment Trading Up 1.2 %

Shares of Flutter Entertainment stock opened at $276.57 on Friday. The business’s 50-day moving average price is $243.32 and its 200-day moving average price is $215.07. Flutter Entertainment plc has a 12 month low of $150.65 and a 12 month high of $279.04.

Flutter Entertainment declared that its board has initiated a stock 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 purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on FLUT shares. Needham & Company LLC raised their price target on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. UBS Group raised their price target on Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday. Barclays raised their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Bank of America started coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price target on the stock. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and a consensus 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.