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

Flutter Entertainment (NYSE:FLUTGet Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $300.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.51% from the stock’s current price.

A number of other research firms have also commented on FLUT. Craig Hallum raised their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price for the company. Susquehanna cut their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a report on Wednesday. BTIG Research lifted their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Barclays upped their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Sixteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $303.40.

Check Out Our Latest Analysis on Flutter Entertainment

Flutter Entertainment Stock Up 1.5 %

Shares of FLUT opened at $255.58 on Wednesday. Flutter Entertainment has a 12 month low of $158.43 and a 12 month high of $284.79. The firm’s 50 day moving average is $263.10 and its 200-day moving average is $229.80.

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

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently modified their holdings of FLUT. US Bancorp DE lifted its position in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC bought a new position in Flutter Entertainment during the third quarter worth $82,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Flutter Entertainment in the third quarter valued at $190,000. Benjamin F. Edwards & Company Inc. boosted its position in Flutter Entertainment by 93.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock valued at $197,000 after acquiring an additional 520 shares during the last quarter. Finally, Seelaus Asset Management LLC acquired a new stake in Flutter Entertainment during the 3rd quarter worth about $204,000.

Flutter Entertainment Company Profile

(Get Free Report)

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.

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