Flutter Entertainment plc (NYSE:FLUT) Given Average Recommendation of “Buy” by Analysts

Shares of Flutter Entertainment plc (NYSE:FLUT) have earned an average recommendation of “Buy” from the sixteen research firms that are covering the company, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $298.79.

Several research analysts have recently issued reports on the stock. Bank of America began coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective for the company. JMP Securities increased their price target on Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Benchmark lifted their target price on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. Rothschild Investment LLC purchased a new stake in Flutter Entertainment in the 2nd quarter worth about $37,000. CWM LLC purchased a new position in Flutter Entertainment during the 2nd quarter valued at about $40,000. US Bancorp DE increased its holdings in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Flutter Entertainment in the third quarter worth approximately $82,000. Finally, Hilltop National Bank acquired a new stake in shares of Flutter Entertainment during the second quarter worth approximately $101,000.

Flutter Entertainment Trading Down 0.9 %

Shares of FLUT opened at $273.28 on Thursday. The firm has a 50-day moving average price of $241.55 and a 200 day moving average price of $214.16. Flutter Entertainment has a 52-week low of $150.65 and a 52-week high of $279.04.

Flutter Entertainment declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is 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.