Susquehanna Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target dropped by equities researchers at Susquehanna from $322.00 to $317.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 24.03% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Craig Hallum raised their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Macquarie assumed coverage on Flutter Entertainment in a report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price target on the stock. Moffett Nathanson boosted their price target on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. UBS Group increased their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Benchmark boosted their target price on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and an average target price of $303.40.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $255.58 on Wednesday. The company has a fifty day simple moving average of $263.10 and a 200-day simple moving average of $229.80. Flutter Entertainment has a 12-month low of $158.43 and a 12-month high of $284.79.

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

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its position in 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 acquiring an additional 99 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Flutter Entertainment in the third quarter valued at $82,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Flutter Entertainment during the 3rd quarter valued at $190,000. Seelaus Asset Management LLC purchased a new stake in Flutter Entertainment during the 3rd quarter worth $204,000. Finally, ArrowMark Colorado Holdings LLC acquired a new position in Flutter Entertainment in the 3rd quarter worth $216,000.

Flutter Entertainment Company Profile

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.