Oppenheimer Issues Positive Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price increased by Oppenheimer from $300.00 to $305.00 in a report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC began coverage on shares of Flutter Entertainment in a research report on Monday, September 23rd. They set a “buy” rating and a $270.00 price objective on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $295.00 price target on shares of Flutter Entertainment in a report on Wednesday, October 30th. JMP Securities increased 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 lifted 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, Benchmark reissued a “buy” rating and issued a $265.00 price target on shares of Flutter Entertainment in a research report on Monday, October 14th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Trading Down 0.6 %

Shares of FLUT opened at $265.45 on Wednesday. The company has a 50-day moving average of $233.95 and a two-hundred day moving average of $210.01. Flutter Entertainment has a one year low of $149.00 and a one year high of $269.90.

Flutter Entertainment declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Capital World Investors bought a new position in shares of Flutter Entertainment in the first quarter valued at approximately $2,880,796,000. Capital Research Global Investors bought a new position in Flutter Entertainment in the 1st quarter worth $2,418,032,000. Vanguard Group Inc. acquired a new position in Flutter Entertainment during the 1st quarter worth $1,578,442,000. Massachusetts Financial Services Co. MA acquired a new position in Flutter Entertainment during the 3rd quarter worth $849,474,000. Finally, Bank of Montreal Can boosted its holdings 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 acquiring an additional 3,019,376 shares during the period.

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.