Susquehanna Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $317.00

Flutter Entertainment (NYSE:FLUT) had its price objective dropped by analysts at Susquehanna from $322.00 to $317.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price points to a potential upside of 25.07% from the stock’s previous close.

FLUT has been the topic of several other reports. Benchmark increased their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. BTIG Research lifted their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays increased their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Moffett Nathanson lifted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company increased their target price on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Sixteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus target price of $304.40.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $1.60 on Wednesday, hitting $253.46. 556,923 shares of the stock were exchanged, compared to its average volume of 928,809. Flutter Entertainment has a 52 week low of $158.43 and a 52 week high of $284.79. The company’s 50-day moving average price is $262.27 and its 200 day moving average price is $229.44.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at $24,464,000. Sanctuary Advisors LLC bought a new position in Flutter Entertainment in the third quarter valued at about $802,000. Virtu Financial LLC boosted its stake in shares of Flutter Entertainment by 56.2% during the third quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock valued at $1,749,000 after purchasing an additional 2,652 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 181 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $436,599,000.

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.