UBS Group Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT) had its target price raised by UBS Group from $308.00 to $320.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Oppenheimer lifted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities lifted their price objective on Flutter Entertainment from $287.00 to $299.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Bank of America started coverage on Flutter Entertainment in a report on Monday, October 14th. They set a “buy” rating and a $300.00 target price on the stock. Needham & Company LLC raised their target price on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Susquehanna raised their target price on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday, November 13th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Price Performance

FLUT opened at $275.59 on Tuesday. Flutter Entertainment has a 1 year low of $150.65 and a 1 year high of $279.04. The stock has a fifty day moving average price of $240.67 and a 200 day moving average price of $213.75.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment in the second quarter worth $37,000. CWM LLC acquired a new position in Flutter Entertainment in the second quarter valued at $40,000. US Bancorp DE lifted its holdings in Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at $82,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment in the second quarter valued at $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.