Flutter Entertainment (NYSE:FLUT) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research report released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $320.00 price objective on the stock.

FLUT has been the subject of several other reports. Bank of America began coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective for the company. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a research report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price target for the company. UBS Group raised their target price on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JMP Securities upped their price target on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday, January 6th. Finally, Moffett Nathanson raised their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $304.44.

Flutter Entertainment Trading Up 2.1 %

NYSE:FLUT opened at $263.03 on Friday. The firm’s 50 day moving average is $265.79 and its 200 day moving average is $233.43. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $284.79. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

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

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $285,000. Choreo LLC purchased a new stake in Flutter Entertainment in the second quarter worth $208,000. Envestnet Asset Management Inc. raised its holdings in Flutter Entertainment by 1,725.9% in the second quarter. Envestnet Asset Management Inc. now owns 22,714 shares of the company’s stock worth $4,145,000 after purchasing an additional 21,470 shares in the last quarter. Virtu Financial LLC purchased a new position in Flutter Entertainment during the second quarter valued at $861,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Flutter Entertainment by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,283 shares of the company’s stock valued at $1,228,000 after buying an additional 661 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.