Flutter Entertainment (NYSE:FLUT) Shares Gap Up Following Analyst Upgrade

Flutter Entertainment plc (NYSE:FLUT)’s stock price gapped up prior to trading on Wednesday after Susquehanna raised their price target on the stock from $222.00 to $230.00. The stock had previously closed at $191.39, but opened at $209.11. Susquehanna currently has a positive rating on the stock. Flutter Entertainment shares last traded at $210.61, with a volume of 1,652,479 shares.

Several other research firms have also recently commented on FLUT. Benchmark restated a “buy” rating and issued a $255.00 target price on shares of Flutter Entertainment in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday. Oppenheimer boosted their price target on shares of Flutter Entertainment from $240.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday. Moffett Nathanson assumed coverage on Flutter Entertainment in a report on Monday, May 6th. They set a “buy” rating and a $240.00 target price on the stock. Finally, BTIG Research upped their price target on shares of Flutter Entertainment from $242.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,211.88.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLUT. Capital World Investors acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at approximately $2,880,796,000. Capital Research Global Investors acquired a new position in Flutter Entertainment during the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment during the first quarter worth $1,578,442,000. Hsbc Holdings PLC boosted its holdings in shares of Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after purchasing an additional 608,003 shares in the last quarter. Finally, Capital International Investors bought a new position in shares of Flutter Entertainment in the 1st quarter valued at $507,170,000.

Flutter Entertainment Trading Up 10.9 %

The business has a fifty day moving average price of $191.69 and a 200 day moving average price of $188.34.

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.