Flutter Entertainment (NYSE:FLUT) Given New $275.00 Price Target at Benchmark

Flutter Entertainment (NYSE:FLUT) had its price target upped by equities researchers at Benchmark from $265.00 to $275.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 3.00% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on FLUT. BTIG Research increased their price target on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group assumed coverage on Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 price target on the stock. Needham & Company LLC started coverage on shares of Flutter Entertainment in a research report on Monday, September 23rd. They set a “buy” rating and a $270.00 price objective for the company. JMP Securities raised their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Finally, Barclays boosted their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday. Fourteen research 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, the stock has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Stock Performance

FLUT stock opened at $267.00 on Wednesday. Flutter Entertainment has a 52 week low of $149.00 and a 52 week high of $269.90. The company’s 50-day simple moving average is $231.87 and its 200 day simple moving average is $209.07.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase 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 shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of FLUT. US Bancorp DE raised its position in Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Flutter Entertainment by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after buying an additional 136 shares during the period. Assenagon Asset Management S.A. raised its holdings in Flutter Entertainment by 3.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after buying an additional 170 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth approximately $37,000. Finally, CWM LLC bought a new stake in Flutter Entertainment during the 2nd quarter worth approximately $40,000.

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.