Flutter Entertainment (NYSE:FLUT) Now Covered by Analysts at Macquarie

Investment analysts at Macquarie initiated coverage on shares of Flutter Entertainment (NYSE:FLUTGet Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $340.00 price target on the stock. Macquarie’s price objective would suggest a potential upside of 22.13% from the company’s current price.

A number of other research firms also recently weighed in on FLUT. BTIG Research lifted their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group upped their target price 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. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Susquehanna upped their price target on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. Sixteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $301.53.

Check Out Our Latest Analysis on Flutter Entertainment

Flutter Entertainment Stock Performance

NYSE FLUT traded up $3.69 during trading on Wednesday, hitting $278.40. The company’s stock had a trading volume of 172,136 shares, compared to its average volume of 1,159,134. Flutter Entertainment has a 52 week low of $158.43 and a 52 week high of $284.79. The firm has a 50 day moving average price of $249.17 and a 200 day moving average price of $218.72.

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

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of FLUT. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $37,000. CWM LLC bought a new stake in Flutter Entertainment in the 2nd quarter valued at $40,000. US Bancorp DE lifted its holdings in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Flutter Entertainment during the third quarter worth $82,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Flutter Entertainment in the third quarter valued at $190,000.

About Flutter Entertainment

(Get Free Report)

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.

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Analyst Recommendations for Flutter Entertainment (NYSE:FLUT)

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