Flutter Entertainment plc (NYSE:FLUT) Receives Average Rating of "Buy" from Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT - Get Free Report) have received an average recommendation of "Buy" from the eighteen analysts that are covering the company, Marketbeat reports. Seventeen equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $304.44.

Several research analysts have weighed in on the company. UBS Group boosted their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their price target on Flutter Entertainment from $300.00 to $285.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus initiated coverage on Flutter Entertainment in a research report on Friday. They set a "buy" rating and a $320.00 price target on the stock. Craig Hallum upped their price target on Flutter Entertainment from $275.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Barclays increased their price objective on Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA purchased a new position in shares of Flutter Entertainment during the third quarter worth approximately $849,474,000. FMR LLC raised its stake in shares of Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company's stock worth $794,362,000 after acquiring an additional 393,122 shares in the last quarter. Bank of Montreal Can grew its holdings 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 worth $798,927,000 after purchasing an additional 3,019,376 shares during the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Flutter Entertainment by 3,827.8% in the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company's stock worth $568,851,000 after purchasing an additional 2,336,347 shares during the last quarter. Finally, Marathon Asset Management Ltd bought a new position in shares of Flutter Entertainment in the third quarter worth approximately $451,631,000.

Flutter Entertainment Stock Performance

FLUT stock traded up $5.47 during midday trading on Friday, hitting $263.03. The company's stock had a trading volume of 1,200,601 shares, compared to its average volume of 1,327,018. The stock's 50-day moving average price is $265.49 and its 200 day moving average price is $232.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment has a 1 year low of $174.03 and a 1 year high of $284.79.

Flutter Entertainment declared that its board has approved a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.