KBC Group NV Buys Shares of 8,820 Flutter Entertainment plc (NYSE:FLUT)

KBC Group NV purchased a new position in Flutter Entertainment plc (NYSE:FLUT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,820 shares of the company’s stock, valued at approximately $2,093,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors bought a new position in Flutter Entertainment in the first quarter valued at about $2,880,796,000. Capital Research Global Investors purchased a new stake in Flutter Entertainment in the 1st quarter worth approximately $2,418,032,000. Vanguard Group Inc. purchased a new position in Flutter Entertainment during the first quarter valued at approximately $1,578,442,000. Capital International Investors bought a new position in shares of Flutter Entertainment in the first quarter worth approximately $507,170,000. Finally, Marathon Asset Management Ltd purchased a new stake in shares of Flutter Entertainment in the third quarter worth $451,631,000.

Flutter Entertainment Trading Up 0.6 %

Shares of FLUT stock opened at $267.05 on Tuesday. Flutter Entertainment plc has a twelve month low of $150.65 and a twelve month high of $269.90. The stock has a fifty day simple moving average of $233.95 and a two-hundred day simple moving average of $210.32.

Flutter Entertainment announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FLUT. Morgan Stanley began coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. Benchmark lifted their price objective on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. UBS Group initiated coverage on shares of Flutter Entertainment in a research report on Friday, November 8th. They set a “buy” rating and a $306.00 target price on the stock. Susquehanna raised their price target on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $296.08.

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.