Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, JMP Securities Analyst Says

Flutter Entertainment (NYSE:FLUT) had its price objective hoisted by JMP Securities from $287.00 to $299.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

FLUT has been the topic of a number of other research reports. Morgan Stanley assumed coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 target price on the stock. BTIG Research increased their target price on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Benchmark increased their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Stock Down 0.6 %

NYSE:FLUT opened at $265.45 on Wednesday. Flutter Entertainment has a one year low of $149.00 and a one year high of $269.90. The stock has a 50 day moving average price of $233.95 and a 200 day moving average price of $210.01.

Flutter Entertainment declared that its Board of Directors 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 an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently added to or reduced their stakes in FLUT. Sei Investments Co. acquired a new stake in shares of Flutter Entertainment during the first quarter valued at $5,283,000. Russell Investments Group Ltd. acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $318,000. Bleakley Financial Group LLC acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $420,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Flutter Entertainment during the first quarter worth about $130,000. Finally, Vanguard Group Inc. acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at approximately $1,578,442,000.

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.