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

Flutter Entertainment (NYSE:FLUT) had its price target increased by research analysts at UBS Group from $308.00 to $320.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 16.22% from the company’s current price.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company raised their price objective on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Moffett Nathanson raised their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. 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. Barclays lifted their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna increased their target price on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research note on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $298.79.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded down $3.00 during trading hours on Tuesday, hitting $275.35. The stock had a trading volume of 290,962 shares, compared to its average volume of 1,157,008. The stock’s fifty day simple moving average is $239.77 and its 200 day simple moving average is $213.26. Flutter Entertainment has a 1-year low of $150.65 and a 1-year high of $279.04.

Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock worth $737,000 after buying an additional 136 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Flutter Entertainment by 3.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after buying an additional 170 shares during the period. Hohimer Wealth Management LLC boosted its position in Flutter Entertainment by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after acquiring an additional 181 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Flutter Entertainment by 11.3% during the 3rd quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock worth $469,000 after acquiring an additional 203 shares during the period.

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.