Flutter Entertainment (NYSE:FLUT) Price Target Raised to $299.00

Flutter Entertainment (NYSE:FLUT) had its price objective lifted by JMP Securities from $287.00 to $299.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research firms have also recently commented on FLUT. Moffett Nathanson raised their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Susquehanna raised their target price on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday. Bank of America initiated coverage on Flutter Entertainment in a research report on Monday, October 14th. They set a “buy” rating and a $300.00 price objective for the company. Oppenheimer boosted their target price on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, BTIG Research increased their price target on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $296.08.

Flutter Entertainment Stock Down 0.6 %

Shares of NYSE FLUT opened at $265.45 on Wednesday. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $269.90. The business’s fifty day moving average price is $233.95 and its two-hundred day moving average price is $210.01.

Flutter Entertainment announced that its board has initiated a share repurchase program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC purchased a new stake in Flutter Entertainment in the 3rd quarter worth approximately $436,599,000. Sender Co & Partners Inc. raised its holdings in shares of Flutter Entertainment by 43.5% during the third quarter. Sender Co & Partners Inc. now owns 8,521 shares of the company’s stock worth $2,022,000 after acquiring an additional 2,582 shares in the last quarter. Vestcor Inc acquired a new stake in Flutter Entertainment during the third quarter valued at $815,000. M&T Bank Corp grew its stake in Flutter Entertainment by 11.3% in the third quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock valued at $469,000 after purchasing an additional 203 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Flutter Entertainment in the 3rd quarter worth about $9,653,000.

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.