Flutter Entertainment (NYSE:FLUT) PT Raised to $273.00

Flutter Entertainment (NYSE:FLUT) had its price target hoisted by Susquehanna from $230.00 to $273.00 in a research note released on Monday, Benzinga reports. The firm currently has a positive rating on the stock.

A number of other equities research analysts have also weighed in on FLUT. Wells Fargo & Company lifted their target price on Flutter Entertainment from $218.00 to $224.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Craig Hallum upped their price objective on shares of Flutter Entertainment from $240.00 to $275.00 and gave the stock a buy rating in a research note on Thursday, September 26th. Benchmark raised their target price on shares of Flutter Entertainment from $255.00 to $265.00 and gave the company a buy rating in a research report on Thursday, September 26th. Morgan Stanley started coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an overweight rating and a $247.00 price target for the company. Finally, Needham & Company LLC started coverage on shares of Flutter Entertainment in a report on Monday, September 23rd. They set a buy rating and a $270.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has an average rating of Buy and an average price target of $264.36.

Flutter Entertainment Trading Up 1.9 %

FLUT stock opened at $240.65 on Monday. The business’s fifty day simple moving average is $215.54 and its two-hundred day simple moving average is $201.94. Flutter Entertainment has a twelve month low of $148.00 and a twelve month high of $252.84.

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

Flutter Entertainment announced that its board has approved a share repurchase program on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management purchased a new position in Flutter Entertainment during the third quarter valued at approximately $395,000. Artemis Investment Management LLP boosted its holdings in Flutter Entertainment by 53.7% during the third quarter. Artemis Investment Management LLP now owns 491,629 shares of the company’s stock worth $116,031,000 after buying an additional 171,685 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in Flutter Entertainment during the third quarter valued at $253,000. SG Americas Securities LLC acquired a new position in shares of Flutter Entertainment in the third quarter worth about $13,840,000. Finally, Maven Securities LTD acquired a new stake in shares of Flutter Entertainment during the 2nd quarter valued at about $894,000.

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.