Flutter Entertainment (NYSE:FLUT) Price Target Raised to $301.00

Flutter Entertainment (NYSE:FLUT) had its target price increased by Barclays from $275.00 to $301.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

FLUT has been the topic of several other research reports. UBS Group initiated coverage on shares of Flutter Entertainment in a research note on Friday, November 8th. They issued a “buy” rating and a $306.00 price objective on the stock. Oppenheimer lifted their target price on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley started coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target for the company. Benchmark restated a “buy” rating and set a $265.00 price objective on shares of Flutter Entertainment in a research report on Monday, October 14th. Finally, Moffett Nathanson upped their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Stock Down 0.6 %

Flutter Entertainment stock opened at $265.44 on Wednesday. The business has a 50 day moving average of $233.95 and a 200-day moving average of $210.01. Flutter Entertainment has a 1 year low of $149.00 and a 1 year high of $269.90.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, sell-side analysts anticipate that Flutter Entertainment will post 4.65 EPS for the current year.

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

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in FLUT. Capital World Investors purchased a new position in Flutter Entertainment during the first quarter worth about $2,880,796,000. Capital Research Global Investors bought a new position in shares of Flutter Entertainment in the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. purchased a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $1,578,442,000. Hsbc Holdings PLC lifted its holdings in Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock worth $1,131,079,000 after acquiring an additional 608,003 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment in the third quarter worth $849,474,000.

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.