Proficio Capital Partners LLC Grows Stake in Flutter Entertainment plc (NYSE:FLUT)

Proficio Capital Partners LLC grew its stake in shares of Flutter Entertainment plc (NYSE:FLUT) by 5.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,840 shares of the company’s stock after acquiring an additional 440 shares during the period. Proficio Capital Partners LLC’s holdings in Flutter Entertainment were worth $2,098,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in Flutter Entertainment during the first quarter valued at about $1,272,000. Capital International Ltd. CA bought a new position in Flutter Entertainment in the 1st quarter worth approximately $2,180,000. Swiss National Bank purchased a new position in Flutter Entertainment in the 1st quarter valued at approximately $119,485,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment during the 1st quarter valued at $1,578,442,000. Finally, National Bank of Canada FI bought a new position in shares of Flutter Entertainment in the first quarter worth $31,514,000.

Flutter Entertainment Stock Up 4.2 %

FLUT stock opened at $248.04 on Friday. The firm’s fifty day moving average is $229.28 and its 200 day moving average is $207.63. Flutter Entertainment plc has a 52 week low of $148.00 and a 52 week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, research analysts forecast that Flutter Entertainment plc will post 4.72 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has initiated a share repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $265.00 price target on shares of Flutter Entertainment in a research report on Monday, October 14th. JMP Securities upped their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a report on Monday, October 14th. Moffett Nathanson increased their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC started coverage on shares of Flutter Entertainment in a research report on Monday, September 23rd. They set a “buy” rating and a $270.00 price target for the company. Finally, Oppenheimer increased their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $278.23.

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.