Susquehanna Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $317.00

Flutter Entertainment (NYSE:FLUT) had its price objective cut by Susquehanna from $322.00 to $317.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a positive rating on the stock.

A number of other research firms have also commented on FLUT. UBS Group boosted their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Moffett Nathanson raised their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Macquarie began coverage on shares of Flutter Entertainment in a research report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $303.40.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $254.08 on Wednesday. Flutter Entertainment has a 52-week low of $158.43 and a 52-week high of $284.79. The stock’s fifty day simple moving average is $263.56 and its 200 day simple moving average is $230.27.

Flutter Entertainment declared that its board has initiated a share buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Flutter Entertainment during the third quarter valued at approximately $849,474,000. Bank of Montreal Can grew its position in Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after purchasing an additional 3,019,376 shares in the last quarter. Cantillon Capital Management LLC raised its holdings in shares of Flutter Entertainment by 3,827.8% during the third quarter. Cantillon Capital Management LLC now owns 2,397,384 shares of the company’s stock worth $568,851,000 after acquiring an additional 2,336,347 shares in the last quarter. Marathon Asset Management Ltd acquired a new position in Flutter Entertainment in the third quarter worth approximately $451,631,000. Finally, Geode Capital Management LLC bought a new stake in Flutter Entertainment in the third quarter worth $436,599,000.

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.