Flutter Entertainment (NYSE:FLUT) Given New $311.00 Price Target at JMP Securities

Flutter Entertainment (NYSE:FLUT) had its target price upped by JMP Securities from $299.00 to $311.00 in a report published on Monday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other analysts have also commented on the stock. Bank of America assumed coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 price target for the company. Needham & Company LLC boosted their target price on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price target on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Susquehanna upped their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Sixteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus target price of $303.40.

Flutter Entertainment Trading Up 1.5 %

NYSE FLUT opened at $255.58 on Monday. Flutter Entertainment has a one year low of $158.43 and a one year high of $284.79. The stock has a 50-day moving average of $262.65 and a 200 day moving average of $229.62.

Flutter Entertainment declared that its board has authorized a share repurchase plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in shares of Flutter Entertainment in the third quarter valued at about $24,464,000. Sanctuary Advisors LLC purchased a new position in Flutter Entertainment in the 3rd quarter worth approximately $802,000. Virtu Financial LLC boosted its stake in Flutter Entertainment by 56.2% in the 3rd quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock worth $1,749,000 after purchasing an additional 2,652 shares during the period. Hohimer Wealth Management LLC grew its holdings in Flutter Entertainment by 3.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after buying an additional 181 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Flutter Entertainment during the third quarter valued at approximately $436,599,000.

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.