Polymer Capital Management HK LTD Sells 5,478 Shares of Flutter Entertainment plc (NYSE:FLUT)

Polymer Capital Management HK LTD lowered its holdings in Flutter Entertainment plc (NYSE:FLUT) by 80.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the company’s stock after selling 5,478 shares during the period. Polymer Capital Management HK LTD’s holdings in Flutter Entertainment were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FLUT. CWM LLC bought a new position in Flutter Entertainment in the second quarter valued at $40,000. Simplicity Wealth LLC grew its position in Flutter Entertainment by 44.6% in the second quarter. Simplicity Wealth LLC now owns 2,959 shares of the company’s stock valued at $540,000 after purchasing an additional 912 shares in the last quarter. Artemis Investment Management LLP grew its position in Flutter Entertainment by 115.4% in the second quarter. Artemis Investment Management LLP now owns 319,944 shares of the company’s stock valued at $58,494,000 after purchasing an additional 171,414 shares in the last quarter. Dnca Finance acquired a new stake in Flutter Entertainment in the second quarter valued at $98,147,000. Finally, Border to Coast Pensions Partnership Ltd acquired a new stake in Flutter Entertainment in the second quarter valued at $22,132,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FLUT shares. Barclays increased their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. UBS Group increased their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Bank of America started coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 price target for the company. Needham & Company LLC increased their price target on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, JMP Securities increased their price target on shares of Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Stock Down 1.6 %

NYSE:FLUT opened at $278.15 on Thursday. Flutter Entertainment plc has a 52 week low of $153.75 and a 52 week high of $282.71. The firm’s 50-day simple moving average is $246.15 and its 200 day simple moving average is $216.66.

Flutter Entertainment declared that its board has approved a share repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Flutter Entertainment Company 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.