Flutter Entertainment (NYSE:FLUT) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a research report report published on Wednesday morning, Benzinga reports. JMP Securities currently has a $255.00 target price on the stock.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley assumed coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an overweight rating and a $247.00 price objective on the stock. Wells Fargo & Company raised their price objective on Flutter Entertainment from $218.00 to $224.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. Berenberg Bank raised Flutter Entertainment to a strong-buy rating in a report on Tuesday, August 27th. Susquehanna raised their price objective on Flutter Entertainment from $222.00 to $230.00 and gave the company a positive rating in a report on Wednesday, August 14th. Finally, Oppenheimer raised their price objective on Flutter Entertainment from $240.00 to $255.00 and gave the company an outperform rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $246.44.

Flutter Entertainment Stock Up 1.1 %

Shares of FLUT stock opened at $231.86 on Wednesday. The stock’s fifty day moving average price is $206.17 and its two-hundred day moving average price is $200.42. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $234.54.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. As a group, analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Capital World Investors bought a new position in shares of Flutter Entertainment in the 1st quarter worth about $2,880,796,000. Capital Research Global Investors bought a new position in shares of Flutter Entertainment in the 1st quarter worth about $2,418,032,000. Vanguard Group Inc. bought a new position in shares of Flutter Entertainment in the 1st quarter worth about $1,578,442,000. Hsbc Holdings PLC grew its stake 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 buying an additional 608,003 shares during the period. Finally, Capital International Investors acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $507,170,000.

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.