JMP Securities reaffirmed their market outperform rating on shares of Flutter Entertainment (NYSE:FLUT – Free Report) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $255.00 price target on the stock.
Several other brokerages have also recently issued reports on FLUT. Barclays lifted their price target on Flutter Entertainment from $263.00 to $275.00 and gave the company an overweight rating in a research report on Thursday. Benchmark boosted their price target on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a buy rating in a research report on Thursday. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an overweight rating and a $247.00 price objective for the company. Berenberg Bank upgraded shares of Flutter Entertainment to a strong-buy rating in a report on Tuesday, August 27th. Finally, Susquehanna raised their target price on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a positive rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flutter Entertainment presently has an average rating of Buy and an average price target of $260.45.
View Our Latest Stock Analysis on FLUT
Flutter Entertainment Stock Down 2.3 %
Flutter Entertainment (NYSE:FLUT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, equities research analysts predict that Flutter Entertainment will post 4.75 EPS for the current year.
Flutter Entertainment declared that its board has authorized a stock repurchase program on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
Institutional Trading of Flutter Entertainment
Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Flutter Entertainment in the first quarter worth $28,000. Assenagon Asset Management S.A. boosted its position in Flutter Entertainment by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after acquiring an additional 170 shares during the period. Rothschild Investment LLC purchased a new position in Flutter Entertainment during the 2nd quarter valued at about $37,000. CWM LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at about $40,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Flutter Entertainment in the first quarter worth approximately $45,000.
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.
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