Flutter Entertainment plc (NYSE:FLUT) Receives $303.40 Consensus Target Price from Analysts

Flutter Entertainment plc (NYSE:FLUT) has received an average recommendation of “Buy” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Seventeen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $304.44.

FLUT has been the topic of several research analyst reports. Moffett Nathanson boosted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Craig Hallum boosted their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. BTIG Research raised their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Oppenheimer upped their target price on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their target price on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

Flutter Entertainment Trading Up 2.1 %

Shares of NYSE FLUT opened at $263.03 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day moving average is $265.79 and its two-hundred day moving average is $233.43. Flutter Entertainment has a 52-week low of $174.03 and a 52-week high of $284.79.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program 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 programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Several institutional investors have recently modified their holdings of FLUT. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC increased its position in Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after buying an additional 50 shares during the period. UMB Bank n.a. lifted its stake in Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the last quarter. US Bancorp DE lifted its stake in Flutter Entertainment by 71.7% in 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 during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $82,000.

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.