JMP Securities Increases Flutter Entertainment (NYSE:FLUT) Price Target to $311.00

Flutter Entertainment (NYSE:FLUT) had its price target hoisted by analysts at JMP Securities from $299.00 to $311.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 21.12% from the company’s current price.

A number of other equities analysts have also recently weighed in on FLUT. Barclays increased their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Macquarie initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price for the company. BTIG Research boosted their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Susquehanna increased their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. Finally, Bank of America began coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price for the company. Sixteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and an average price target of $302.33.

Flutter Entertainment Trading Up 0.8 %

FLUT opened at $256.76 on Monday. Flutter Entertainment has a one year low of $158.43 and a one year high of $284.79. The business’s 50 day moving average price is $261.20 and its 200 day moving average price is $228.24.

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

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC purchased a new position in Flutter Entertainment in the third quarter worth approximately $24,464,000. Sanctuary Advisors LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $802,000. Virtu Financial LLC lifted its position in shares of Flutter Entertainment by 56.2% during the 3rd quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock worth $1,749,000 after purchasing an additional 2,652 shares during the last quarter. Hohimer Wealth Management LLC grew its stake in shares of Flutter Entertainment by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock worth $1,306,000 after purchasing an additional 181 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new position in Flutter Entertainment in the third quarter valued at $436,599,000.

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.