Analysts Set Flutter Entertainment plc (NYSE:FLUT) Target Price at $298.79

Shares of Flutter Entertainment plc (NYSE:FLUT) have been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the firm, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $298.79.

Several analysts have recently issued reports on the stock. Moffett Nathanson upped their target price 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. Bank of America began coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price for the company. Wells Fargo & Company lifted their price target on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BTIG Research upped their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Benchmark lifted their target price on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FLUT. Russell Investments Group Ltd. purchased a new stake in shares of Flutter Entertainment during the first quarter worth $318,000. DekaBank Deutsche Girozentrale purchased a new position in Flutter Entertainment during the 1st quarter valued at about $22,498,000. Hilltop National Bank purchased a new position in Flutter Entertainment during the 2nd quarter valued at about $101,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the second quarter valued at about $40,000. Finally, Simplicity Wealth LLC lifted its holdings in shares of Flutter Entertainment by 44.6% in the second quarter. Simplicity Wealth LLC now owns 2,959 shares of the company’s stock worth $540,000 after buying an additional 912 shares in the last quarter.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $276.32 on Thursday. Flutter Entertainment has a one year low of $150.65 and a one year high of $279.04. The firm has a 50-day moving average of $243.32 and a 200-day moving average of $215.17.

Flutter Entertainment announced that its Board of Directors has approved a share buyback plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Flutter Entertainment Company Profile

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.