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

Flutter Entertainment (NYSE:FLUT) had its price target hoisted by JMP Securities from $299.00 to $311.00 in a research note issued to investors on Monday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Benchmark raised their price target on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Susquehanna lifted their target price on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective for the company. Finally, Bank of America assumed coverage on Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 target price on the stock. Sixteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $303.40.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $255.58 on Monday. The firm has a fifty day simple moving average of $262.65 and a two-hundred day simple moving average of $229.62. Flutter Entertainment has a twelve month low of $158.43 and a twelve month high of $284.79.

Flutter Entertainment declared that its Board of Directors has authorized a share buyback plan 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 plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently made changes to their positions in FLUT. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment during the third quarter valued at $849,474,000. Bank of Montreal Can raised its position in shares of Flutter Entertainment by 868.5% in the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after purchasing an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC grew its position in Flutter Entertainment by 3,827.8% during the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock valued at $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter. Marathon Asset Management Ltd purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $451,631,000. Finally, Geode Capital Management LLC bought a new stake in Flutter Entertainment during the 3rd quarter valued at about $436,599,000.

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.