Craig Hallum Raises Flutter Entertainment (NYSE:FLUT) Price Target to $275.00

Flutter Entertainment (NYSE:FLUT) had its price objective increased by Craig Hallum from $240.00 to $275.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on FLUT. Oppenheimer boosted their target price on Flutter Entertainment from $255.00 to $300.00 and gave the stock an outperform rating in a report on Thursday. BTIG Research boosted their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Moffett Nathanson raised their target price on Flutter Entertainment from $245.00 to $275.00 and gave the company a buy rating in a research note on Thursday. JMP Securities reiterated a market outperform rating and set a $255.00 price target on shares of Flutter Entertainment in a research report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an overweight rating and a $247.00 price objective for the company. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $260.45.

Flutter Entertainment Trading Down 2.3 %

Flutter Entertainment stock opened at $238.33 on Thursday. The stock has a fifty day moving average price of $209.39 and a two-hundred day moving average price of $201.13. Flutter Entertainment has a 52-week low of $148.00 and a 52-week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. On average, equities research analysts predict that Flutter Entertainment will post 4.75 EPS for the current year.

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

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in shares of Flutter Entertainment during the 1st quarter valued at $28,000. Assenagon Asset Management S.A. grew its stake in shares of Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after purchasing an additional 170 shares during the period. Rothschild Investment LLC bought a new stake in Flutter Entertainment in the second quarter valued at about $37,000. CWM LLC acquired a new position in Flutter Entertainment in the second quarter valued at about $40,000. Finally, YHB Investment Advisors Inc. acquired a new position in Flutter Entertainment in the first quarter valued at about $45,000.

About Flutter Entertainment

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.