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

Flutter Entertainment plc (NYSE:FLUT) has been assigned a consensus rating of “Buy” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. Fifteen investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $298.79.

A number of research analysts have issued reports on FLUT shares. The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Moffett Nathanson lifted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Bank of America started coverage on Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price for the company. Finally, Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th.

Institutional Trading of Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in shares of Flutter Entertainment during the first quarter valued at $22,498,000. Raymond James & Associates raised its position in Flutter Entertainment by 10.0% in the 3rd quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock worth $4,354,000 after buying an additional 1,663 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Flutter Entertainment during the 1st quarter valued at about $318,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $3,888,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Flutter Entertainment by 48.3% during the 3rd quarter. GSA Capital Partners LLP now owns 12,034 shares of the company’s stock valued at $2,855,000 after acquiring an additional 3,922 shares during the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $277.86 on Thursday. The stock’s 50 day moving average price is $244.29 and its 200-day moving average price is $215.69. Flutter Entertainment has a 52-week low of $152.77 and a 52-week high of $279.04.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.