Flutter Entertainment (NYSE:FLUT) Price Target Raised to $320.00 at UBS Group

Flutter Entertainment (NYSE:FLUT) had its price objective hoisted by equities researchers at UBS Group from $308.00 to $320.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 17.10% from the stock’s previous close.

Several other equities analysts also recently commented on FLUT. Susquehanna raised their target price on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. Oppenheimer lifted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Craig Hallum lifted their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $298.79.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $273.28 on Tuesday. Flutter Entertainment has a 1-year low of $150.65 and a 1-year high of $279.04. The business’s 50 day moving average is $241.55 and its 200-day moving average is $214.16.

Flutter Entertainment announced that its Board of Directors has approved a share repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Bleakley Financial Group LLC grew its stake in Flutter Entertainment by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after acquiring an additional 136 shares during the period. Assenagon Asset Management S.A. grew its stake in Flutter Entertainment by 3.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after acquiring an additional 170 shares during the period. Hohimer Wealth Management LLC grew its stake in Flutter Entertainment by 3.4% in the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after acquiring an additional 181 shares during the period. Finally, 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 acquiring an additional 203 shares during the period.

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.