Flutter Entertainment (NYSE:FLUT) Given New $300.00 Price Target at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) had its target price lifted by Wells Fargo & Company from $295.00 to $300.00 in a research note published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

FLUT has been the subject of a number of other reports. Craig Hallum increased their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna lifted their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday. BTIG Research boosted their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group began coverage on Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 price target for the company. Finally, Bank of America initiated coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $296.08.

Flutter Entertainment Trading Up 7.0 %

NYSE FLUT opened at $265.54 on Wednesday. The business’s 50 day moving average is $230.80 and its two-hundred day moving average 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 posted its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. Research analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. US Bancorp DE boosted its stake in Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Flutter Entertainment by 4.6% in the third 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 last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 170 shares during the period. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the second quarter worth approximately $37,000. Finally, CWM LLC purchased a new position in Flutter Entertainment during the second quarter worth approximately $40,000.

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.