UBS Group Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $320.00

Flutter Entertainment (NYSE:FLUT) had its price target hoisted by UBS Group from $308.00 to $320.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 17.10% from the company’s previous close.

Other research analysts have also issued reports about the company. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Needham & Company LLC upped their price target on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price target on Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Craig Hallum upped their price target on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley initiated coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target on the stock. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $298.79.

Flutter Entertainment Stock Down 0.9 %

Shares of Flutter Entertainment stock opened at $273.28 on Tuesday. The stock’s fifty day moving average is $241.55 and its 200-day moving average is $214.16. Flutter Entertainment has a 12-month low of $150.65 and a 12-month high of $279.04.

Flutter Entertainment announced that its board has initiated a stock repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. Sanctuary Advisors LLC acquired a new stake in Flutter Entertainment in the 3rd quarter valued at approximately $802,000. Virtu Financial LLC grew its holdings in Flutter Entertainment by 56.2% in the 3rd quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock valued at $1,749,000 after buying an additional 2,652 shares during the last quarter. Hohimer Wealth Management LLC grew its holdings in Flutter Entertainment by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after buying an additional 181 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $436,599,000. Finally, Sender Co & Partners Inc. grew its holdings in shares of Flutter Entertainment by 43.5% during the 3rd quarter. Sender Co & Partners Inc. now owns 8,521 shares of the company’s stock worth $2,022,000 after purchasing an additional 2,582 shares in the last quarter.

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.