Flutter Entertainment (NYSE:FLUT) Price Target Raised to $320.00

Flutter Entertainment (NYSE:FLUT) had its target price raised by UBS Group from $308.00 to $320.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on FLUT. JMP Securities upped their price target on shares of Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Craig Hallum upped their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC upped their price target on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer upped their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, BTIG Research increased their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $298.79.

Flutter Entertainment Price Performance

Shares of FLUT opened at $276.57 on Tuesday. Flutter Entertainment has a 1-year low of $150.65 and a 1-year high of $279.04. The company’s fifty day moving average price is $243.32 and its 200-day moving average price is $215.07.

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

Institutional Trading of Flutter Entertainment

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