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

Flutter Entertainment (NYSE:FLUT) had its price objective increased by research analysts at JMP Securities from $299.00 to $311.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 23.35% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Moffett Nathanson boosted their price objective 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. Barclays raised their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC increased their price objective on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Bank of America began coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price objective on the stock. Sixteen research 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 presently has a consensus rating of “Buy” and an average price target of $302.33.

Flutter Entertainment Trading Down 1.2 %

FLUT stock opened at $252.12 on Monday. The firm has a 50 day moving average of $261.78 and a 200-day moving average of $229.00. Flutter Entertainment has a 12-month low of $158.43 and a 12-month high of $284.79.

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

Institutional Investors Weigh In On Flutter Entertainment

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Flutter Entertainment by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after acquiring an additional 136 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in Flutter Entertainment by 3.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after acquiring an additional 181 shares during the last quarter. M&T Bank Corp grew its holdings in Flutter Entertainment by 11.3% during the 3rd quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock worth $469,000 after acquiring an additional 203 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at about $82,000.

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.