JMP Securities Raises Flutter Entertainment (NYSE:FLUT) Price Target to $287.00

Flutter Entertainment (NYSE:FLUT) had its price objective upped by equities research analysts at JMP Securities from $255.00 to $287.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 30.75% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Barclays boosted their target price on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Wells Fargo & Company raised Flutter Entertainment from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $224.00 to $295.00 in a report on Monday. Moffett Nathanson raised their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, BTIG Research raised their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus price target of $275.92.

Flutter Entertainment Trading Down 8.8 %

NYSE:FLUT opened at $219.50 on Monday. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $252.84. The firm’s fifty day moving average price is $217.13 and its 200 day moving average price is $202.14.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Research analysts expect that Flutter Entertainment will post 4.75 EPS for the current year.

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

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently bought and sold shares of the stock. Ritholtz Wealth Management purchased a new stake in shares of Flutter Entertainment in the third quarter valued at $395,000. Artemis Investment Management LLP raised its stake in Flutter Entertainment by 53.7% in the 3rd quarter. Artemis Investment Management LLP now owns 491,629 shares of the company’s stock valued at $116,031,000 after purchasing an additional 171,685 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in Flutter Entertainment in the 3rd quarter valued at about $253,000. SG Americas Securities LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $13,840,000. Finally, Maven Securities LTD purchased a new stake in shares of Flutter Entertainment during the second quarter worth about $894,000.

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.