Flutter Entertainment (NYSE:FLUT) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $306.00 price target on the stock.

FLUT has been the topic of several other reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, October 30th. Craig Hallum lifted their price objective on shares of Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research 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. 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 target price on the stock. Finally, JMP Securities raised their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $278.23.

Flutter Entertainment Trading Up 4.2 %

Shares of Flutter Entertainment stock traded up $10.06 during trading hours on Friday, reaching $248.04. The company’s stock had a trading volume of 2,675,579 shares, compared to its average volume of 1,690,016. The company’s 50 day simple moving average is $229.28 and its 200 day simple moving average is $207.51. Flutter Entertainment has a one year low of $148.00 and a one year high of $252.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data 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 the consensus estimate of $3.41 billion. On average, equities analysts expect that Flutter Entertainment will post 4.72 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth approximately $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth approximately $40,000. US Bancorp DE boosted its holdings in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the third quarter worth approximately $82,000. Finally, Hilltop National Bank acquired a new stake in shares of Flutter Entertainment during the second quarter worth approximately $101,000.

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.