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

Flutter Entertainment (NYSE:FLUT) had its target price cut by analysts at Susquehanna from $322.00 to $317.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 25.07% from the stock’s current price.

A number of other research firms have also recently issued reports on FLUT. 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. BTIG Research raised their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. JMP Securities boosted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $304.40.

Flutter Entertainment Price Performance

FLUT stock traded up $1.60 during midday trading on Wednesday, hitting $253.46. The stock had a trading volume of 556,923 shares, compared to its average volume of 928,809. The business has a fifty day moving average price of $262.27 and a two-hundred day moving average price of $229.44. Flutter Entertainment has a 1-year low of $158.43 and a 1-year high of $284.79.

Flutter Entertainment declared that its board has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FLUT. Commonwealth Equity Services LLC purchased a new stake in Flutter Entertainment in the second quarter worth $285,000. TD Asset Management Inc bought a new stake in Flutter Entertainment in the second quarter worth $8,920,000. Prudential PLC increased its holdings in shares of Flutter Entertainment by 4.6% during the second quarter. Prudential PLC now owns 15,168 shares of the company’s stock valued at $2,766,000 after acquiring an additional 666 shares in the last quarter. Choreo LLC purchased a new position in shares of Flutter Entertainment in the 2nd quarter worth about $208,000. Finally, Wellington Shields & Co. LLC bought a new position in Flutter Entertainment in the 2nd quarter worth about $322,000.

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.