Flutter Entertainment plc (NYSE:FLUT) Given Consensus Rating of “Buy” by Analysts

Flutter Entertainment plc (NYSE:FLUT) has received an average rating of “Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $298.79.

Several equities research analysts have recently issued reports on FLUT shares. Susquehanna lifted their price target on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday, November 13th. Bank of America started coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They set a “buy” rating and a $300.00 price objective on the stock. JMP Securities boosted their target price on shares of Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Craig Hallum raised their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their price objective on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $22,498,000. Raymond James & Associates increased its position in Flutter Entertainment by 10.0% during the third quarter. Raymond James & Associates now owns 18,348 shares of the company’s stock worth $4,354,000 after acquiring an additional 1,663 shares during the period. Russell Investments Group Ltd. acquired a new position in Flutter Entertainment during the 1st quarter valued at $318,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Flutter Entertainment in the 3rd quarter valued at $3,888,000. Finally, GSA Capital Partners LLP grew its position in Flutter Entertainment by 48.3% in the 3rd quarter. GSA Capital Partners LLP now owns 12,034 shares of the company’s stock worth $2,855,000 after purchasing an additional 3,922 shares during the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $273.28 on Thursday. The stock has a fifty day moving average price of $241.55 and a 200 day moving average price of $214.16. Flutter Entertainment has a 1 year low of $150.65 and a 1 year high of $279.04.

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

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.