Flutter Entertainment (NYSE:FLUT) Price Target Raised to $299.00 at JMP Securities

Flutter Entertainment (NYSE:FLUT) had its target price increased by JMP Securities from $287.00 to $299.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently issued reports on FLUT. Barclays lifted their target price on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday. Craig Hallum increased their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research lifted their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Susquehanna upped their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $265.54 on Wednesday. The company’s 50-day moving average price is $230.80 and its two-hundred day moving average price is $208.67. Flutter Entertainment has a 12 month low of $149.00 and a 12 month high of $266.22.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. As a group, analysts forecast that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

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

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of FLUT. Rothschild Investment LLC acquired a new position in shares of Flutter Entertainment in the second quarter worth $37,000. CWM LLC bought a new stake in Flutter Entertainment during the second quarter valued at $40,000. US Bancorp DE increased its position in Flutter Entertainment by 71.7% in the third 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 position in Flutter Entertainment during the 3rd quarter worth $82,000. Finally, Hilltop National Bank bought a new stake in Flutter Entertainment during the second quarter worth approximately $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.