Flutter Entertainment (NYSE:FLUT) Given New $300.00 Price Target at Needham & Company LLC

Flutter Entertainment (NYSE:FLUT) had its price objective increased by Needham & Company LLC from $270.00 to $300.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on FLUT. BTIG Research boosted their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Benchmark boosted their price objective on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday. Moffett Nathanson increased 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. Bank of America initiated coverage on Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, Craig Hallum increased their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $296.08.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $265.45 on Wednesday. The company’s fifty day moving average price is $233.95 and its 200 day moving average price is $210.01. Flutter Entertainment has a 1 year low of $149.00 and a 1 year high of $269.90.

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

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth $37,000. CWM LLC purchased a new position in Flutter Entertainment during the second quarter worth about $40,000. US Bancorp DE increased its position 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 during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment during the third quarter valued at about $82,000. Finally, Hilltop National Bank purchased a new stake in shares of Flutter Entertainment in the 2nd quarter valued at 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.