Flutter Entertainment (NYSE:FLUT) Given New $317.00 Price Target at Susquehanna

Flutter Entertainment (NYSE:FLUT) had its price target lowered by Susquehanna from $322.00 to $317.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other research analysts have also issued reports on FLUT. Moffett Nathanson raised their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Craig Hallum increased their price target on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Benchmark lifted their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group upped their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Sixteen investment 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 stock currently has a consensus rating of “Buy” and an average price target of $303.40.

Flutter Entertainment Stock Up 1.5 %

FLUT opened at $255.58 on Wednesday. The company has a 50-day simple moving average of $262.65 and a 200 day simple moving average of $229.62. Flutter Entertainment has a twelve month low of $158.43 and a twelve month high of $284.79.

Flutter Entertainment announced that its board has initiated a stock buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment in the third quarter worth $82,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Flutter Entertainment in the third quarter worth $190,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Flutter Entertainment by 93.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock valued at $197,000 after buying an additional 520 shares during the last quarter. Finally, Seelaus Asset Management LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter valued at $204,000.

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.