JMP Securities Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT - Free Report) had its price objective lifted by JMP Securities from $299.00 to $311.00 in a research report report published on Monday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities research analysts have also recently weighed in on FLUT. Benchmark increased their price objective on Flutter Entertainment from $265.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Moffett Nathanson raised their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Macquarie initiated coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an "outperform" rating and a $340.00 price target for the company. UBS Group boosted 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, November 26th. Finally, Barclays lifted their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Sixteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Flutter Entertainment has an average rating of "Buy" and a consensus target price of $302.33.

Flutter Entertainment Trading Down 0.6 %

Shares of NYSE:FLUT traded down $1.45 during trading on Monday, reaching $255.31. 1,071,466 shares of the company traded hands, compared to its average volume of 1,444,506. Flutter Entertainment has a 1-year low of $158.43 and a 1-year high of $284.79. The firm has a fifty day simple moving average of $261.20 and a 200 day simple moving average of $228.54.

Flutter Entertainment announced that its board has approved a stock buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Vestcor Inc acquired a new position in Flutter Entertainment during the 3rd quarter valued at about $815,000. Sanctuary Advisors LLC acquired a new position in Flutter Entertainment in the third quarter valued at approximately $802,000. Raymond James & Associates boosted its stake in Flutter Entertainment by 10.0% in the third quarter. Raymond James & Associates now owns 18,348 shares of the company's stock valued at $4,354,000 after acquiring an additional 1,663 shares during the last quarter. Geode Capital Management LLC bought a new position in Flutter Entertainment in the third quarter valued at approximately $436,599,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Flutter Entertainment during the 3rd quarter worth $3,888,000.

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.