Flutter Entertainment (NYSE:FLUT) Now Covered by Stifel Nicolaus

Investment analysts at Stifel Nicolaus assumed coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “buy” rating and a $320.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential upside of 21.66% from the stock’s current price.

Several other analysts also recently commented on the stock. Benchmark lifted their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Macquarie started coverage on Flutter Entertainment in a report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 price objective for the company. BTIG Research increased their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Oppenheimer lifted their price target on Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Bank of America initiated coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Seventeen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $304.44.

Flutter Entertainment Trading Up 2.1 %

Shares of Flutter Entertainment stock opened at $263.03 on Friday. Flutter Entertainment has a 1 year low of $174.03 and a 1 year high of $284.79. The business has a fifty day simple moving average of $265.79 and a two-hundred day simple moving average of $233.16. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment declared that its Board of Directors has initiated a stock buyback plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently modified their holdings of the business. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment in the fourth quarter valued at $26,000. Harbor Investment Advisory LLC grew its position in shares of Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. UMB Bank n.a. grew its position in shares of Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the last quarter. US Bancorp DE increased its stake in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in shares of Flutter Entertainment during the third quarter worth about $82,000.

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.