Flutter Entertainment plc (NYSE:FLUT) Receives $298.79 Consensus Target Price from Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT - Get Free Report) have been given an average recommendation of "Buy" by the sixteen research firms that are presently covering the stock, MarketBeat.com reports. Fifteen analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $298.79.

A number of equities research analysts recently commented on FLUT shares. Susquehanna boosted their target price on Flutter Entertainment from $273.00 to $286.00 and gave the stock a "positive" rating in a research report on Wednesday, November 13th. BTIG Research boosted their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Barclays boosted their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Bank of America began coverage on Flutter Entertainment in a research report on Monday, October 14th. They set a "buy" rating and a $300.00 price objective on the stock. Finally, UBS Group upped their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the company a "buy" rating in a research report on Tuesday.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock traded down $2.41 during trading hours on Thursday, hitting $273.33. The company's stock had a trading volume of 683,383 shares, compared to its average volume of 1,158,808. The business has a 50 day moving average price of $241.55 and a two-hundred day moving average price of $214.16. Flutter Entertainment has a 12-month low of $150.65 and a 12-month high of $279.04.

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 shares. This buyback authorization allows the company to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC purchased a new position in Flutter Entertainment in the 2nd quarter worth $40,000. US Bancorp DE raised its stake in Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company's stock worth $56,000 after acquiring an additional 99 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter worth $82,000. Finally, Hilltop National Bank purchased a new position in Flutter Entertainment in the 2nd quarter worth $101,000.

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.