The Goldman Sachs Group Initiates Coverage on Flutter Entertainment (NYSE:FLUT)

The Goldman Sachs Group began coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research note released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $320.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the company. Moffett Nathanson upped their price target on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC upped their target price on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer upped their target price on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. UBS Group started coverage on Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 target price on the stock. Finally, Craig Hallum upped their target price on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $297.79.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $278.35 on Friday. Flutter Entertainment has a fifty-two week low of $150.65 and a fifty-two week high of $279.04. The business has a 50 day moving average price of $239.77 and a two-hundred day moving average price of $213.26.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. US Bancorp DE boosted its stake in 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 buying an additional 99 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Flutter Entertainment by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after buying an additional 136 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after buying an additional 170 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in Flutter Entertainment by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 5,506 shares of the company’s stock valued at $1,306,000 after buying an additional 181 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Flutter Entertainment by 11.3% during the third quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock valued at $469,000 after buying an additional 203 shares in the last quarter.

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.