Analysts Set Flutter Entertainment plc (NYSE:FLUT) PT at $298.79

Flutter Entertainment plc (NYSE:FLUT) has been given a consensus rating of “Buy” by the sixteen analysts that are presently covering the firm, MarketBeat reports. Fifteen analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $298.79.

A number of equities analysts recently issued reports on FLUT shares. UBS Group upped their price objective on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Oppenheimer upped their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Bank of America assumed coverage on Flutter Entertainment in a report on Monday, October 14th. They set a “buy” rating and a $300.00 price objective on the stock. The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price for the company. Finally, Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new position in Flutter Entertainment during the third quarter worth $849,474,000. Bank of Montreal Can grew its stake in shares of Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after buying an additional 3,019,376 shares during the period. Cantillon Capital Management LLC increased its position in 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 valued at $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Marathon Asset Management Ltd acquired a new position in Flutter Entertainment during the 3rd quarter worth approximately $451,631,000. Finally, Geode Capital Management LLC bought a new position in Flutter Entertainment in the third quarter worth approximately $436,599,000.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $276.32 on Thursday. Flutter Entertainment has a 12 month low of $150.65 and a 12 month high of $279.04. The stock has a 50-day moving average price of $243.32 and a two-hundred day moving average price of $215.17.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback program on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.