Flutter Entertainment (NYSE:FLUT) Now Covered by Stifel Nicolaus

Investment analysts at Stifel Nicolaus started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research note issued on Friday,Benzinga reports. The brokerage set a “buy” rating and a $320.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 24.21% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FLUT. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a report on Wednesday, January 8th. Macquarie initiated coverage on Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price objective for the company. Barclays boosted their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Oppenheimer increased their target price on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, UBS Group boosted 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. Seventeen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $304.44.

Flutter Entertainment Trading Up 0.9 %

NYSE FLUT opened at $257.63 on Friday. Flutter Entertainment has a twelve month low of $164.75 and a twelve month high of $284.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day simple moving average is $265.49 and its 200 day simple moving average is $232.33.

Flutter Entertainment declared that its Board of Directors has initiated a stock 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 reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its stake in shares of Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. UMB Bank n.a. boosted its stake in Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after acquiring an additional 50 shares during the last quarter. US Bancorp DE grew its holdings in 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 acquiring an additional 99 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $82,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $190,000.

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.