Flutter Entertainment plc (NYSE:FLUT) Receives $301.53 Consensus PT from Analysts

Flutter Entertainment plc (NYSE:FLUT) has been assigned a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Sixteen equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $301.53.

A number of brokerages have issued reports on FLUT. Craig Hallum raised their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Macquarie initiated coverage on Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price objective for the company. Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Benchmark boosted their target price on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC increased their price target on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of FLUT. Vestcor Inc acquired a new position in Flutter Entertainment in the 3rd quarter valued at $815,000. Raymond James & Associates increased its position in shares of Flutter Entertainment by 10.0% in the third quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock worth $4,354,000 after purchasing an additional 1,663 shares during the period. Sanctuary Advisors LLC acquired a new position in Flutter Entertainment in the third quarter valued at about $802,000. Geode Capital Management LLC bought a new stake in Flutter Entertainment during the third quarter worth about $436,599,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Flutter Entertainment during the third quarter worth about $3,888,000.

Flutter Entertainment Stock Performance

FLUT stock opened at $261.49 on Monday. The company has a 50 day moving average price of $256.58 and a 200 day moving average price of $224.30. Flutter Entertainment has a fifty-two week low of $158.43 and a fifty-two week high of $284.79.

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

Flutter Entertainment Company Profile

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.