Flutter Entertainment (NYSE:FLUT) Given New $301.00 Price Target at Barclays

Flutter Entertainment (NYSE:FLUT) had its price target lifted by Barclays from $275.00 to $301.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the company. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and set a $265.00 target price on shares of Flutter Entertainment in a research note on Monday, October 14th. Susquehanna increased their price target on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a research note on Wednesday. Wells Fargo & Company restated an “overweight” rating and set a $295.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, October 30th. Finally, Bank of America assumed coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price on the stock. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Stock Down 0.6 %

Flutter Entertainment stock opened at $265.45 on Wednesday. The company has a fifty day simple moving average of $233.95 and a 200-day simple moving average of $210.01. Flutter Entertainment has a 12-month low of $149.00 and a 12-month high of $269.90.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its position in Flutter Entertainment by 71.7% in the 3rd 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 last quarter. Bleakley Financial Group LLC lifted its stake in shares of Flutter Entertainment by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock worth $737,000 after acquiring an additional 136 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Flutter Entertainment by 3.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after acquiring an additional 170 shares in the last quarter. M&T Bank Corp increased its stake in shares of Flutter Entertainment by 11.3% during the third quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock worth $469,000 after acquiring an additional 203 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Flutter Entertainment during the second quarter worth about $37,000.

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.