Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Flutter Entertainment plc (NYSE:FLUT) by 66.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,973 shares of the company’s stock after selling 68,680 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flutter Entertainment were worth $8,009,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLUT. Hsbc Holdings PLC raised its position in shares of Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after purchasing an additional 608,003 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment in the third quarter valued at $849,474,000. FMR LLC boosted its stake in Flutter Entertainment by 13.2% during the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after acquiring an additional 393,122 shares during the last quarter. Bank of Montreal Can grew its holdings in Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after acquiring an additional 3,019,376 shares in the last quarter. Finally, Cantillon Capital Management LLC increased its position in shares of Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several research analyst reports. Susquehanna increased their price target on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group began coverage on Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. BTIG Research boosted their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Benchmark raised their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Stock Performance

FLUT opened at $276.32 on Monday. The stock’s 50 day moving average price is $243.32 and its 200 day moving average price is $215.19. Flutter Entertainment plc has a 12 month low of $150.65 and a 12 month high of $279.04.

Flutter Entertainment announced that its board has authorized a stock repurchase program 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 programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.