Flutter Entertainment plc (NYSE:FLUT) Receives Consensus Rating of “Buy” from Analysts

Shares of Flutter Entertainment plc (NYSE:FLUT) have been given a consensus recommendation of “Buy” by the seventeen research firms that are currently covering the firm, Marketbeat.com reports. Sixteen equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $303.40.

A number of research firms recently weighed in on FLUT. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Flutter Entertainment in a research report on Wednesday, January 8th. JMP Securities boosted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th. BTIG Research increased their price target on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 11th. Macquarie began coverage on Flutter Entertainment in a research report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price objective on the stock. Finally, UBS Group upped their target price on Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in FLUT. Vestcor Inc acquired a new stake in shares of Flutter Entertainment in the third quarter valued at $815,000. Benson Investment Management Company Inc. purchased a new position in Flutter Entertainment during the 4th quarter valued at about $5,116,000. Sanctuary Advisors LLC acquired a new position in Flutter Entertainment in the 3rd quarter valued at about $802,000. Raymond James & Associates increased its stake in Flutter Entertainment by 10.0% during 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. Finally, Geode Capital Management LLC acquired a new stake in shares of Flutter Entertainment during the third quarter worth about $436,599,000.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $257.63 on Friday. Flutter Entertainment has a 52-week low of $164.75 and a 52-week high of $284.79. The firm’s fifty day moving average is $265.49 and its two-hundred day moving average is $232.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment announced that its board has initiated a share repurchase plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are 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.