Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, Craig Hallum Analyst Says

Flutter Entertainment (NYSE:FLUT) had its target price increased by Craig Hallum from $275.00 to $350.00 in a report published on Wednesday,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley started coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target on the stock. JMP Securities lifted their target price on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. BTIG Research lifted their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Moffett Nathanson increased their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus target price of $296.08.

Flutter Entertainment Trading Down 0.6 %

Shares of FLUT stock opened at $265.45 on Wednesday. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $269.90. The firm’s 50-day simple moving average is $233.95 and its 200-day simple moving average is $210.01.

Flutter Entertainment declared that its board has approved a share buyback plan on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors acquired a new position in Flutter Entertainment in the first quarter worth about $2,880,796,000. Capital Research Global Investors bought a new position in Flutter Entertainment during the 1st quarter worth approximately $2,418,032,000. Vanguard Group Inc. acquired a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $1,578,442,000. Hsbc Holdings PLC increased its holdings in shares of Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after acquiring an additional 608,003 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at approximately $849,474,000.

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.