Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $317.00 at Susquehanna

Flutter Entertainment (NYSE:FLUT) had its price objective cut by research analysts at Susquehanna from $322.00 to $317.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 24.03% from the company’s previous close.

Several other brokerages have also weighed in on FLUT. Macquarie started coverage on shares of Flutter Entertainment in a report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price objective for the company. JMP Securities lifted their price target on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a report on Wednesday. Oppenheimer increased their target price on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Benchmark boosted their price target on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus target price of $303.40.

Flutter Entertainment Price Performance

FLUT stock opened at $255.58 on Wednesday. The firm has a 50 day simple moving average of $263.10 and a 200-day simple moving average of $229.80. Flutter Entertainment has a twelve month low of $158.43 and a twelve month high of $284.79.

Flutter Entertainment announced that its board has authorized a share buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new stake in shares of Flutter Entertainment during the third quarter valued at about $849,474,000. Bank of Montreal Can raised its position in shares of Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after buying an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC lifted its stake in shares of Flutter Entertainment by 3,827.8% in the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after acquiring an additional 2,336,347 shares during the period. Marathon Asset Management Ltd bought a new position in shares of Flutter Entertainment in the third quarter valued at approximately $451,631,000. Finally, Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment during the third quarter valued at approximately $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.