Susquehanna Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $317.00

Flutter Entertainment (NYSE:FLUT - Free Report) had its price target reduced by Susquehanna from $322.00 to $317.00 in a report released on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

A number of other equities analysts also recently commented on the stock. Oppenheimer raised their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Barclays raised 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. The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They set a "buy" rating and a $320.00 price objective on the stock. Wells Fargo & Company increased their target price on Flutter Entertainment from $295.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Bank of America assumed coverage on Flutter Entertainment in a research note on Monday, October 14th. They issued a "buy" rating and a $300.00 price target on the stock. Sixteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $303.40.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded up $3.72 during trading hours on Wednesday, reaching $255.58. The stock had a trading volume of 1,927,141 shares, compared to its average volume of 1,240,108. Flutter Entertainment has a twelve month low of $158.43 and a twelve month high of $284.79. The business's fifty day moving average is $262.27 and its two-hundred day moving average is $229.44.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLUT. US Bancorp DE raised its position in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company's stock valued at $56,000 after acquiring an additional 99 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Flutter Entertainment in the third quarter valued at about $82,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Flutter Entertainment in the third quarter valued at about $190,000. Seelaus Asset Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at about $204,000. Finally, ArrowMark Colorado Holdings LLC bought a new position in Flutter Entertainment during the third quarter worth about $216,000.

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.