Moffett Nathanson Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $275.00

Flutter Entertainment (NYSE:FLUT) had its price objective boosted by Moffett Nathanson from $245.00 to $275.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on FLUT. Berenberg Bank upgraded shares of Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. Wells Fargo & Company raised their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the stock an equal weight rating in a research report on Wednesday, August 14th. JMP Securities restated a market outperform rating and set a $255.00 target price on shares of Flutter Entertainment in a research report on Wednesday, September 18th. Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an overweight rating and a $247.00 target price on the stock. Finally, Oppenheimer raised their target price on shares of Flutter Entertainment from $255.00 to $300.00 and gave the stock an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $260.45.

Flutter Entertainment Trading Down 2.3 %

FLUT stock opened at $238.33 on Thursday. The company’s 50 day simple moving average is $209.39 and its 200-day simple moving average is $201.13. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, analysts predict that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in FLUT. Artemis Investment Management LLP purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at $29,611,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at $70,371,000. Financial Perspectives Inc purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at $102,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at $45,000.

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.