Flutter Entertainment plc (NYSE:FLUT) Receives Consensus Rating of “Buy” from Analysts

Flutter Entertainment plc (NYSE:FLUT) has been assigned a consensus rating of “Buy” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $301.53.

A number of analysts have recently commented on FLUT shares. The Goldman Sachs Group started coverage on Flutter Entertainment in a research report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective for the company. Needham & Company LLC lifted their price target on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Susquehanna upped their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. Craig Hallum lifted their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Barclays upped their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $24,464,000. Sanctuary Advisors LLC acquired a new position in Flutter Entertainment in the third quarter valued at approximately $802,000. Virtu Financial LLC grew its position in Flutter Entertainment by 56.2% in the third quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock worth $1,749,000 after acquiring an additional 2,652 shares during the period. Hohimer Wealth Management LLC increased its stake in Flutter Entertainment by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock worth $1,306,000 after acquiring an additional 181 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new stake in Flutter Entertainment in the third quarter valued at $436,599,000.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $264.78 on Monday. Flutter Entertainment has a twelve month low of $158.43 and a twelve month high of $284.79. The business has a 50-day moving average price of $255.25 and a 200 day moving average price of $223.31.

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