Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, Barclays Analyst Says

Flutter Entertainment (NYSE:FLUT) had its price target hoisted by Barclays from $275.00 to $301.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on FLUT. BTIG Research lifted their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $295.00 price objective on shares of Flutter Entertainment in a report on Wednesday, October 30th. UBS Group started coverage on Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 price target for the company. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Craig Hallum lifted their target price on shares of Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Stock Down 0.6 %

NYSE:FLUT opened at $265.45 on Wednesday. Flutter Entertainment has a fifty-two week low of $149.00 and a fifty-two week high of $269.90. The firm’s fifty day simple moving average is $233.95 and its 200-day simple moving average is $210.01.

Flutter Entertainment announced that its board has initiated 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 buy up to 11.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC purchased a new position in Flutter Entertainment during the second quarter worth about $37,000. CWM LLC purchased a new stake in Flutter Entertainment in the second quarter valued at approximately $40,000. US Bancorp DE increased its position in Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Flutter Entertainment during the third quarter worth approximately $82,000. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $101,000.

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.