Flutter Entertainment (NYSE:FLUT) Price Target Raised to $287.00 at JMP Securities

Flutter Entertainment (NYSE:FLUT) had its target price upped by JMP Securities from $255.00 to $287.00 in a report published on Monday, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages also recently weighed in on FLUT. Wells Fargo & Company raised shares of Flutter Entertainment from an equal weight rating to an overweight rating and boosted their price objective for the company from $224.00 to $295.00 in a research report on Monday. 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 report on Thursday, September 26th. Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an overweight rating and a $247.00 target price for the company. Berenberg Bank upgraded shares of Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. Finally, Barclays upped their target price on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an overweight rating in a research report on Thursday, September 26th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of Buy and an average target price of $275.92.

Flutter Entertainment Stock Up 4.8 %

Shares of NYSE:FLUT opened at $230.10 on Monday. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The firm has a 50-day simple moving average of $218.09 and a 200 day simple moving average of $202.37.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, analysts expect that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment announced that its board has initiated a stock repurchase program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ritholtz Wealth Management acquired a new stake in Flutter Entertainment in the 3rd quarter worth $395,000. Artemis Investment Management LLP grew its position in Flutter Entertainment by 53.7% in the 3rd quarter. Artemis Investment Management LLP now owns 491,629 shares of the company’s stock worth $116,031,000 after purchasing an additional 171,685 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Flutter Entertainment in the 3rd quarter worth $253,000. SG Americas Securities LLC acquired a new stake in Flutter Entertainment in the 3rd quarter worth $13,840,000. Finally, Maven Securities LTD acquired a new stake in Flutter Entertainment in the 2nd quarter worth $894,000.

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.