Flutter Entertainment (NYSE:FLUT) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research report report published on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $320.00 price objective on the stock.

FLUT has been the subject of several other reports. BTIG Research increased their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Craig Hallum increased 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. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Needham & Company LLC increased their price objective on Flutter Entertainment from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JMP Securities raised their price target on Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $297.79.

Flutter Entertainment Stock Up 1.0 %

Shares of NYSE FLUT opened at $278.35 on Friday. The business has a fifty day simple moving average of $239.77 and a 200-day simple moving average of $213.26. Flutter Entertainment has a 12 month low of $150.65 and a 12 month high of $279.04.

Flutter Entertainment declared that its Board of Directors has approved a share buyback plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 11.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC increased its holdings in shares of Flutter Entertainment by 10.9% during the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after acquiring an additional 608,003 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Flutter Entertainment during the 3rd quarter valued at about $849,474,000. FMR LLC increased its holdings in shares of Flutter Entertainment by 13.2% during the 3rd quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after acquiring an additional 393,122 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after acquiring an additional 3,019,376 shares during the last quarter. Finally, Cantillon Capital Management LLC grew its holdings 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 during the last quarter.

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.