Flutter Entertainment (NYSE:FLUT) Price Target Raised to $301.00 at Barclays

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

A number of other equities analysts have also commented on FLUT. Craig Hallum lifted their price target on shares of Flutter Entertainment from $240.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. JMP Securities lifted their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. Susquehanna increased their target price on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, 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. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and a consensus target price of $296.08.

Flutter Entertainment Stock Down 1.1 %

Shares of FLUT opened at $262.60 on Wednesday. The company’s 50 day moving average price is $230.80 and its 200 day moving average price is $208.67. Flutter Entertainment has a 52 week low of $149.00 and a 52 week high of $266.22.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. As a group, equities research analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current year.

Flutter Entertainment announced that its board has approved 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 repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors bought a new stake in shares of Flutter Entertainment during the 1st quarter worth $2,880,796,000. Capital Research Global Investors purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment during the first quarter worth about $1,578,442,000. Hsbc Holdings PLC boosted its holdings in shares of Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock worth $1,131,079,000 after purchasing an additional 608,003 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Flutter Entertainment during the third quarter worth approximately $849,474,000.

About Flutter Entertainment

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.