Flutter Entertainment plc (NYSE:FLUT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Flutter Entertainment plc (NYSE:FLUT) have received an average rating of “Buy” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $301.53.

A number of analysts recently commented on the stock. Moffett Nathanson boosted their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group upped their price target on Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. JMP Securities raised their price objective on Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Oppenheimer boosted their target price on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Barclays increased their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the second quarter worth $37,000. US Bancorp DE increased 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 acquiring an additional 99 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $82,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Flutter Entertainment in the 3rd quarter worth approximately $190,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Flutter Entertainment by 93.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock worth $197,000 after purchasing an additional 520 shares during the period.

Flutter Entertainment Stock Up 1.0 %

NYSE:FLUT opened at $261.80 on Monday. Flutter Entertainment has a 52-week low of $158.43 and a 52-week high of $284.79. The business’s 50-day moving average price is $258.33 and its 200 day moving average price is $225.92.

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

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.