Flutter Entertainment (NYSE:FLUT) Price Target Raised to $311.00 at JMP Securities

Flutter Entertainment (NYSE:FLUTFree Report) had its price objective boosted by JMP Securities from $299.00 to $311.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also recently commented on FLUT. BTIG Research lifted their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group increased their target price on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Oppenheimer upped their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on Flutter Entertainment in a research note on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price on the stock. Finally, Bank of America initiated coverage on Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price target for the company. Sixteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $302.33.

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Flutter Entertainment Stock Performance

NYSE:FLUT opened at $255.31 on Monday. Flutter Entertainment has a 52-week low of $158.43 and a 52-week high of $284.79. The stock’s 50 day moving average price is $261.20 and its 200 day moving average price is $228.54.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback program on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds have recently bought and sold shares of FLUT. US Bancorp DE increased its position in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Flutter Entertainment during the 3rd quarter valued at about $82,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Flutter Entertainment during the 3rd quarter valued at about $190,000. Benjamin F. Edwards & Company Inc. raised its position in Flutter Entertainment by 93.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock worth $197,000 after acquiring an additional 520 shares during the last quarter. Finally, Seelaus Asset Management LLC purchased a new stake in shares of Flutter Entertainment in the third quarter valued at about $204,000.

About Flutter Entertainment

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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.

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Analyst Recommendations for Flutter Entertainment (NYSE:FLUT)

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