Wells Fargo & Company Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target reduced by investment analysts at Wells Fargo & Company from $300.00 to $285.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 11.51% from the company’s current price.

FLUT has been the topic of a number of other research reports. The Goldman Sachs Group began coverage on Flutter Entertainment in a report on Friday, November 22nd. They set a “buy” rating and a $320.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a research note on Wednesday. BTIG Research raised their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Oppenheimer boosted their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, UBS Group raised their target price on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Sixteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $303.40.

Flutter Entertainment Stock Up 1.5 %

Shares of NYSE FLUT traded up $3.72 on Wednesday, hitting $255.58. The company’s stock had a trading volume of 1,914,836 shares, compared to its average volume of 1,240,107. The stock has a 50 day moving average of $262.27 and a 200-day moving average of $229.44. Flutter Entertainment has a 12-month low of $158.43 and a 12-month high of $284.79.

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

Institutional Trading of Flutter Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its stake in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the period. Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment during the 3rd quarter worth $82,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Flutter Entertainment during the 3rd quarter worth $190,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Flutter Entertainment by 93.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock worth $197,000 after buying an additional 520 shares in the last quarter. Finally, Seelaus Asset Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter valued at about $204,000.

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.