Charles Schwab Investment Management Inc. Buys 617,238 Shares of Flutter Entertainment plc (NYSE:FLUT)

Charles Schwab Investment Management Inc. boosted its position in shares of Flutter Entertainment plc (NYSE:FLUT) by 11,727.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 622,501 shares of the company’s stock after purchasing an additional 617,238 shares during the period. Charles Schwab Investment Management Inc. owned about 0.35% of Flutter Entertainment worth $147,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in shares of Flutter Entertainment during the first quarter worth about $22,498,000. Raymond James & Associates boosted its position in Flutter Entertainment by 10.0% during the 3rd quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock worth $4,354,000 after acquiring an additional 1,663 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $318,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $3,888,000. Finally, GSA Capital Partners LLP lifted its position in shares of Flutter Entertainment by 48.3% in the third quarter. GSA Capital Partners LLP now owns 12,034 shares of the company’s stock worth $2,855,000 after purchasing an additional 3,922 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a report on Friday. They issued a “buy” rating and a $320.00 price objective for the company. Morgan Stanley started coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. BTIG Research raised their price target on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Craig Hallum upped their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $297.79.

Flutter Entertainment Stock Up 3.3 %

FLUT stock opened at $275.52 on Monday. Flutter Entertainment plc has a one year low of $150.65 and a one year high of $275.63. The company has a fifty day moving average price of $238.69 and a two-hundred day moving average price of $212.65.

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

Flutter Entertainment 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.