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

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

Several other research firms have also recently commented on FLUT. Oppenheimer upped their price target on Flutter Entertainment from $255.00 to $300.00 and gave the company an outperform rating in a report on Thursday. BTIG Research upped their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their price objective on Flutter Entertainment from $218.00 to $224.00 and gave the company an equal weight rating in a research note on Wednesday, August 14th. JMP Securities reiterated a market outperform rating and issued a $255.00 price objective on shares of Flutter Entertainment in a research note on Thursday. Finally, Moffett Nathanson upped their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a buy rating in a research note on Thursday. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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 business’s 50-day simple moving average is $209.39 and its 200-day simple moving average is $200.98. Flutter Entertainment has a 52 week low of $148.00 and a 52 week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results 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 firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, research analysts predict that Flutter Entertainment will post 4.75 earnings per share for the current year.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in Flutter Entertainment in the 1st quarter valued at $28,000. Rothschild Investment LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at $37,000. CWM LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at $40,000. YHB Investment Advisors Inc. bought a new position in Flutter Entertainment in the 1st quarter valued at $45,000. Finally, Hilltop National Bank bought a new position in Flutter Entertainment in the 2nd quarter valued at $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.