Wells Fargo & Company Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $285.00

Flutter Entertainment (NYSE:FLUT) had its price target cut by Wells Fargo & Company from $300.00 to $285.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

FLUT has been the subject of several other research reports. Susquehanna dropped their target price on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company 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 research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a report on Wednesday. JMP Securities increased their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Finally, UBS Group lifted their price objective on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $303.40.

Flutter Entertainment Stock Down 0.7 %

Shares of NYSE:FLUT opened at $254.08 on Wednesday. Flutter Entertainment has a 1-year low of $158.43 and a 1-year high of $284.79. The firm’s 50 day simple moving average is $263.56 and its two-hundred day simple moving average is $230.27.

Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its position in shares of Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after buying an additional 608,003 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Flutter Entertainment in the third quarter worth $849,474,000. FMR LLC lifted its position in shares of Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock worth $794,362,000 after purchasing an additional 393,122 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after purchasing an additional 3,019,376 shares during the period. Finally, Cantillon Capital Management LLC grew its holdings in shares of Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after purchasing an additional 2,336,347 shares during 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.