Flutter Entertainment (NYSE:FLUT) Price Target Increased to $275.00 by Analysts at Moffett Nathanson

Flutter Entertainment (NYSE:FLUT) had its target price upped by Moffett Nathanson from $245.00 to $275.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Berenberg Bank raised shares of Flutter Entertainment to a strong-buy rating in a report on Tuesday, August 27th. BTIG Research raised their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a buy rating in a report on Wednesday, August 14th. Barclays assumed coverage on shares of Flutter Entertainment in a report on Thursday, September 12th. They set an overweight rating and a $263.00 price objective for the company. JMP Securities reissued a market outperform rating and set a $255.00 price objective on shares of Flutter Entertainment in a report on Wednesday, September 18th. Finally, Susquehanna raised their price objective on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a positive rating in a report on Wednesday, August 14th. 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 stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of Buy and a consensus price target of $260.45.

Flutter Entertainment Stock Down 2.3 %

Flutter Entertainment stock opened at $238.33 on Thursday. Flutter Entertainment has a 12-month low of $148.00 and a 12-month high of $252.84. The firm’s fifty day moving average price is $209.39 and its 200 day moving average price is $201.13.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Equities analysts anticipate that Flutter Entertainment will post 4.75 EPS for the current year.

Flutter Entertainment declared that its board has initiated a share repurchase plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Flutter Entertainment during the 1st quarter valued at about $28,000. Assenagon Asset Management S.A. boosted its stake in Flutter Entertainment by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after purchasing an additional 170 shares during the period. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the 2nd quarter valued at about $37,000. CWM LLC acquired a new position in Flutter Entertainment during the 2nd quarter valued at about $40,000. Finally, YHB Investment Advisors Inc. acquired a new position in Flutter Entertainment during the 1st 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.