Flutter Entertainment plc (NYSE:FLUT) Given Consensus Rating of “Buy” by Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT) have earned an average recommendation of “Buy” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. Fifteen analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $298.79.

Several analysts have weighed in on FLUT shares. JMP Securities boosted 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. Needham & Company LLC upped their target price on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer raised their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective on the stock. Finally, Moffett Nathanson raised their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th.

Flutter Entertainment Price Performance

Shares of FLUT opened at $273.28 on Thursday. The company’s fifty day moving average price is $241.55 and its 200-day moving average price is $214.16. Flutter Entertainment has a 1-year low of $150.65 and a 1-year high of $279.04.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

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

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.