Flutter Entertainment (NYSE:FLUT) Given New $305.00 Price Target at BTIG Research

Flutter Entertainment (NYSE:FLUT) had its price objective upped by BTIG Research from $249.00 to $305.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. Benchmark reissued a “buy” rating and set a $265.00 price target on shares of Flutter Entertainment in a report on Monday, October 14th. Bank of America initiated coverage on Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 price objective for the company. Barclays lifted their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a 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. Finally, Moffett Nathanson lifted their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Price Performance

FLUT opened at $267.00 on Monday. The company’s 50 day moving average is $231.87 and its 200 day moving average is $209.07. Flutter Entertainment has a 12-month low of $149.00 and a 12-month high of $269.90.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. Equities analysts forecast that Flutter Entertainment will post 4.72 earnings per share for the current year.

Flutter Entertainment announced that its board has initiated a share buyback plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently bought and sold shares of FLUT. Acadian Asset Management LLC purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $1,272,000. Capital International Ltd. CA purchased a new stake in Flutter Entertainment during the first quarter valued at approximately $2,180,000. Vanguard Group Inc. bought a new stake in shares of Flutter Entertainment in the 1st quarter valued at approximately $1,578,442,000. National Bank of Canada FI purchased a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $31,514,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $22,498,000.

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.