Flutter Entertainment (NYSE:FLUT) Price Target Raised to $311.00 at JMP Securities

Flutter Entertainment (NYSE:FLUT) had its target price increased by equities researchers at JMP Securities from $299.00 to $311.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 21.12% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Susquehanna lifted their price target on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Benchmark boosted their target price on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer raised their price target on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price objective on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sixteen equities research 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, the stock has an average rating of “Buy” and an average price target of $302.33.

Flutter Entertainment Price Performance

FLUT stock opened at $256.76 on Monday. Flutter Entertainment has a twelve month low of $158.43 and a twelve month high of $284.79. The company’s 50 day moving average is $261.20 and its two-hundred day moving average is $228.24.

Flutter Entertainment declared that its board has initiated a stock repurchase program on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $285,000. CIBC Asset Management Inc acquired a new stake in Flutter Entertainment in the second quarter valued at $401,000. TD Asset Management Inc purchased a new stake in shares of Flutter Entertainment during the 2nd quarter worth $8,920,000. Prudential PLC grew its stake in shares of Flutter Entertainment by 4.6% during the 2nd quarter. Prudential PLC now owns 15,168 shares of the company’s stock worth $2,766,000 after purchasing an additional 666 shares during the period. Finally, Choreo LLC purchased a new position in shares of Flutter Entertainment in the 2nd quarter valued at about $208,000.

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.