Flutter Entertainment (NYSE:FLUT) Now Covered by Analysts at Macquarie

Research analysts at Macquarie started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set an “outperform” rating and a $340.00 price target on the stock. Macquarie’s price target would suggest a potential upside of 20.95% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Bank of America initiated coverage on Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Craig Hallum increased their price target on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Susquehanna increased their price target on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. Needham & Company LLC increased their price target on Flutter Entertainment from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group initiated coverage on Flutter Entertainment in a research report on Friday, November 22nd. They set a “buy” rating and a $320.00 price target on the stock. Sixteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $301.53.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $281.11 on Wednesday. Flutter Entertainment has a 12-month low of $158.43 and a 12-month high of $284.79. The stock’s 50-day moving average price is $250.99 and its 200 day moving average price is $219.56.

Flutter Entertainment declared that its board 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 reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $37,000. CWM LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth $40,000. US Bancorp DE raised its stake in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new stake in Flutter Entertainment during the 3rd quarter worth $82,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Flutter Entertainment during the 3rd quarter worth $190,000.

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.