Craig Hallum Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $275.00

Flutter Entertainment (NYSE:FLUT) had its price objective upped by investment analysts at Craig Hallum from $240.00 to $275.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 15.39% from the stock’s current price.

Several other equities research analysts have also recently weighed in on FLUT. Benchmark increased their target price on Flutter Entertainment from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $255.00 target price on shares of Flutter Entertainment in a report on Thursday. Morgan Stanley started coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target for the company. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Barclays upped their price objective on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $260.45.

Flutter Entertainment Stock Down 2.3 %

Shares of Flutter Entertainment stock opened at $238.33 on Thursday. Flutter Entertainment has a 52-week low of $148.00 and a 52-week high of $252.84. The company has a fifty day moving average of $208.64 and a 200-day moving average of $200.99.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Analysts predict that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a stock buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. Maven Securities LTD bought a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $894,000. Susquehanna International Group Ltd. lifted its position in Flutter Entertainment by 124.2% during the 2nd quarter. Susquehanna International Group Ltd. now owns 56,534 shares of the company’s stock valued at $10,310,000 after acquiring an additional 31,322 shares during the period. Scientech Research LLC bought a new stake in Flutter Entertainment during the second quarter worth about $993,000. Sender Co & Partners Inc. purchased a new stake in Flutter Entertainment in the second quarter worth about $1,083,000. Finally, Mackenzie Financial Corp increased its stake in shares of Flutter Entertainment by 168.9% during the second quarter. Mackenzie Financial Corp now owns 11,918 shares of the company’s stock valued at $2,177,000 after purchasing an additional 7,486 shares in the last quarter.

Flutter Entertainment Company Profile

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.