Flutter Entertainment plc (NYSE:FLUT) Receives Average Rating of “Buy” from Analysts

Shares of Flutter Entertainment plc (NYSE:FLUT) have received an average recommendation of “Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Sixteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $301.53.

Several analysts recently weighed in on the stock. JMP Securities lifted their target price on shares of Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. BTIG Research lifted 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. Susquehanna boosted their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday, November 13th. Bank of America started coverage on Flutter Entertainment in a report on Monday, October 14th. They set a “buy” rating and a $300.00 target price for the company. Finally, Macquarie started coverage on shares of Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price target on the stock.

Flutter Entertainment Trading Up 1.3 %

Shares of FLUT opened at $264.78 on Monday. The firm has a 50-day simple moving average of $255.25 and a two-hundred day simple moving average of $223.31. Flutter Entertainment has a 1-year low of $158.43 and a 1-year high of $284.79.

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

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the second quarter valued at $37,000. US Bancorp DE increased its holdings in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $82,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Flutter Entertainment during the third quarter worth approximately $190,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Flutter Entertainment by 93.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock valued at $197,000 after purchasing an additional 520 shares in the last quarter.

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.