Flutter Entertainment (NYSE:FLUT) Given New $317.00 Price Target at Susquehanna

Flutter Entertainment (NYSE:FLUT) had its target price reduced by Susquehanna from $322.00 to $317.00 in a research report report published on Wednesday,Benzinga reports. They currently have a positive rating on the stock.

A number of other research firms also recently weighed in on FLUT. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 price target for the company. BTIG Research raised their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group upped their price target on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JMP Securities raised their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday. Finally, Macquarie started coverage on shares of Flutter Entertainment in a report on Wednesday, December 11th. They issued an “outperform” rating and a $340.00 price target for the company. Sixteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $303.40.

Flutter Entertainment Stock Up 1.5 %

Shares of NYSE FLUT opened at $255.58 on Wednesday. The business has a fifty day simple moving average of $262.65 and a 200-day simple moving average of $229.62. Flutter Entertainment has a 12 month low of $158.43 and a 12 month high of $284.79.

Flutter Entertainment declared that its board has authorized a share buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new position in Flutter Entertainment during the 3rd quarter worth approximately $24,464,000. Sanctuary Advisors LLC bought a new position in shares of Flutter Entertainment during the third quarter worth $802,000. Virtu Financial LLC grew its holdings in shares of Flutter Entertainment by 56.2% in the 3rd quarter. Virtu Financial LLC now owns 7,371 shares of the company’s stock valued at $1,749,000 after buying an additional 2,652 shares during the period. Hohimer Wealth Management LLC increased its position in shares of Flutter Entertainment by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after buying an additional 181 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Flutter Entertainment during the 3rd quarter worth $436,599,000.

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.