Susquehanna Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT) had its price target upped by Susquehanna from $273.00 to $286.00 in a research report released on Wednesday,Benzinga reports. They currently have a positive rating on the stock.

FLUT has been the subject of a number of other reports. Needham & Company LLC began coverage on shares of Flutter Entertainment in a report on Monday, September 23rd. They issued a “buy” rating and a $270.00 target price for the company. Barclays increased their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. JMP Securities upped their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Morgan Stanley began coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $295.00 target price on shares of Flutter Entertainment in a research report on Wednesday, October 30th. Fourteen 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.com, the company has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Price Performance

Shares of FLUT opened at $265.45 on Wednesday. Flutter Entertainment has a 12-month low of $149.00 and a 12-month high of $269.90. The firm has a fifty day moving average price of $233.95 and a 200-day moving average price of $210.01.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in FLUT. Sei Investments Co. acquired a new position in Flutter Entertainment in the 1st quarter valued at approximately $5,283,000. Russell Investments Group Ltd. acquired a new stake in Flutter Entertainment during the 1st quarter worth $318,000. Bleakley Financial Group LLC acquired a new stake in Flutter Entertainment during the 1st quarter worth $420,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Flutter Entertainment during the 1st quarter worth about $130,000. Finally, Vanguard Group Inc. bought a new position in Flutter Entertainment during the 1st quarter worth about $1,578,442,000.

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.