UBS Group Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $320.00

Flutter Entertainment (NYSE:FLUT) had its target price boosted by investment analysts at UBS Group from $308.00 to $320.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 16.22% from the stock’s current price.

Several other research firms have also issued reports on FLUT. Wells Fargo & Company boosted their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Craig Hallum increased their target price on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays lifted 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. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, JMP Securities lifted their target price on Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $298.79.

Flutter Entertainment Trading Down 1.1 %

FLUT stock traded down $3.00 during trading on Tuesday, reaching $275.35. The stock had a trading volume of 290,962 shares, compared to its average volume of 1,157,008. Flutter Entertainment has a one year low of $150.65 and a one year high of $279.04. The company’s 50 day moving average is $239.77 and its two-hundred day moving average is $213.26.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in shares of Flutter Entertainment during the first quarter valued at $318,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $22,498,000. Hilltop National Bank purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at about $101,000. CWM LLC purchased a new position in shares of Flutter Entertainment during the second quarter valued at approximately $40,000. Finally, Simplicity Wealth LLC lifted its position in Flutter Entertainment by 44.6% during the second quarter. Simplicity Wealth LLC now owns 2,959 shares of the company’s stock valued at $540,000 after purchasing an additional 912 shares during the period.

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.