Brokerages Set Flutter Entertainment plc (NYSE:FLUT) PT at $301.53

Flutter Entertainment plc (NYSE:FLUT) has received an average rating of “Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $301.53.

FLUT has been the subject of several analyst reports. Benchmark increased their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. BTIG Research boosted their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC upped 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. The Goldman Sachs Group started coverage on Flutter Entertainment in a research report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th.

Flutter Entertainment Price Performance

NYSE FLUT opened at $261.80 on Monday. The business has a fifty day simple moving average of $258.33 and a 200 day simple moving average of $225.32. 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 authorized a share repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Flutter Entertainment in the third quarter worth about $849,474,000. Bank of Montreal Can increased its holdings in Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after acquiring an additional 3,019,376 shares during the period. Cantillon Capital Management LLC increased its holdings in Flutter Entertainment by 3,827.8% during the 3rd quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after acquiring an additional 2,336,347 shares during the period. Marathon Asset Management Ltd purchased a new stake in Flutter Entertainment in the 3rd quarter worth approximately $451,631,000. Finally, Geode Capital Management LLC bought a new position in Flutter Entertainment in the 3rd quarter valued at $436,599,000.

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.