Flutter Entertainment (NYSE:FLUT) Price Target Raised to $320.00

Flutter Entertainment (NYSE:FLUT) had its price target increased by UBS Group from $308.00 to $320.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on the stock. Moffett Nathanson boosted their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Craig Hallum boosted their price target on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JMP Securities boosted their target price on Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley started coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target for the company. Fifteen equities research 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 stock currently has an average rating of “Buy” and a consensus price target of $298.79.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $273.33 on Tuesday. The company’s fifty day simple moving average is $242.43 and its 200 day simple moving average is $214.57. Flutter Entertainment has a 1-year low of $150.65 and a 1-year high of $279.04.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC bought a new stake in Flutter Entertainment during the second quarter worth about $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $40,000. US Bancorp DE boosted its position 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 acquiring an additional 99 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Flutter Entertainment in the third quarter valued at approximately $82,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment during the second quarter valued at approximately $101,000.

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.