Flutter Entertainment (NYSE:FLUT) Now Covered by Analysts at Stifel Nicolaus

Stock analysts at Stifel Nicolaus initiated coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report issued on Friday,Benzinga reports. The brokerage set a “buy” rating and a $320.00 price target on the stock. Stifel Nicolaus’ price objective points to a potential upside of 24.21% from the company’s current price.

FLUT has been the subject of several other reports. Benchmark lifted their price target on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer boosted their target price on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Flutter Entertainment in a report on Wednesday, January 8th. Barclays upped their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Moffett Nathanson boosted their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Buy” and a consensus target price of $304.44.

Flutter Entertainment Stock Up 0.9 %

Shares of NYSE:FLUT opened at $257.63 on Friday. Flutter Entertainment has a 1 year low of $164.75 and a 1 year high of $284.79. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $265.49 and a 200 day simple moving average of $232.33.

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

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment in the 3rd quarter worth $849,474,000. FMR LLC lifted its stake in shares of Flutter Entertainment by 13.2% in the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after buying an additional 393,122 shares during the period. Bank of Montreal Can lifted its stake in shares of Flutter Entertainment by 868.5% in the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after buying an additional 3,019,376 shares during the period. Cantillon Capital Management LLC grew its position in Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after buying an additional 2,336,347 shares in the last quarter. Finally, Marathon Asset Management Ltd bought a new position in Flutter Entertainment during the third quarter valued at about $451,631,000.

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.