Flutter Entertainment (NYSE:FLUT) PT Raised to $300.00

Flutter Entertainment (NYSE:FLUT) had its price target lifted by Oppenheimer from $255.00 to $300.00 in a report released on Thursday, MarketBeat reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC started coverage on shares of Flutter Entertainment in a research report on Monday. They issued a buy rating and a $270.00 price objective for the company. BTIG Research upped their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the stock a buy rating in a report on Wednesday, August 14th. Benchmark reissued a buy rating and issued a $255.00 target price on shares of Flutter Entertainment in a report on Wednesday, August 14th. Berenberg Bank upgraded shares of Flutter Entertainment to a strong-buy rating in a report on Tuesday, August 27th. Finally, Susquehanna boosted their price objective on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a positive rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $260.45.

Flutter Entertainment Price Performance

NYSE FLUT opened at $243.95 on Thursday. Flutter Entertainment has a 52-week low of $148.00 and a 52-week high of $252.84. The business’s 50-day moving average price is $207.75 and its 200 day moving average price is $200.69.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, equities analysts forecast that Flutter Entertainment will post 4.75 EPS for the current year.

Flutter Entertainment announced that its board has approved a share repurchase plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 11.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are 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 stock. Capital World Investors acquired a new stake in shares of Flutter Entertainment during the 1st quarter worth about $2,880,796,000. Capital Research Global Investors acquired a new stake in Flutter Entertainment during the first quarter worth approximately $2,418,032,000. Vanguard Group Inc. purchased a new stake in Flutter Entertainment in the 1st quarter worth approximately $1,578,442,000. Hsbc Holdings PLC raised its holdings in Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after acquiring an additional 608,003 shares during the last quarter. Finally, Capital International Investors purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $507,170,000.

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.