Flutter Entertainment (NYSE:FLUT) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $320.00 price target on the stock.

Several other analysts have also recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, January 8th. JMP Securities lifted their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Oppenheimer upped their price target on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, UBS Group lifted their price objective on Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Seventeen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus target price of $304.44.

Flutter Entertainment Trading Up 2.1 %

Shares of FLUT opened at $263.03 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $265.79 and a two-hundred day moving average price of $232.86. Flutter Entertainment has a 52-week low of $174.03 and a 52-week high of $284.79.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC lifted its position in Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares in the last quarter. UMB Bank n.a. boosted its stake in Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. US Bancorp DE increased its holdings in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new position in Flutter Entertainment during the 3rd quarter worth about $82,000.

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.