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

Flutter Entertainment (NYSE:FLUT) had its price target upped by Craig Hallum from $240.00 to $275.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

FLUT has been the topic of several other research reports. Benchmark raised their price objective on Flutter Entertainment from $255.00 to $265.00 and gave the stock a buy rating in a research note on Thursday. Morgan Stanley initiated coverage on Flutter Entertainment in a report on Thursday, August 22nd. They set an overweight rating and a $247.00 target price for the company. JMP Securities reiterated a market outperform rating and set a $255.00 target price on shares of Flutter Entertainment in a report on Thursday. Moffett Nathanson increased their target price on Flutter Entertainment from $245.00 to $275.00 and gave the stock a buy rating in a report on Thursday. Finally, Wells Fargo & Company increased their target price on Flutter Entertainment from $218.00 to $224.00 and gave the stock an equal weight rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $260.45.

Flutter Entertainment Stock Down 2.3 %

Shares of Flutter Entertainment stock opened at $238.33 on Thursday. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84. The stock’s fifty day simple moving average is $209.39 and its 200 day simple moving average is $200.98.

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

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

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds have recently modified their holdings of FLUT. Maven Securities LTD acquired a new position in Flutter Entertainment during the second quarter worth approximately $894,000. Susquehanna International Group Ltd. increased its holdings in shares of Flutter Entertainment by 124.2% during the 2nd quarter. Susquehanna International Group Ltd. now owns 56,534 shares of the company’s stock worth $10,310,000 after acquiring an additional 31,322 shares during the last quarter. Scientech Research LLC bought a new stake in Flutter Entertainment in the 2nd quarter valued at $993,000. Sender Co & Partners Inc. acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $1,083,000. Finally, Mackenzie Financial Corp boosted its position in Flutter Entertainment by 168.9% during the second quarter. Mackenzie Financial Corp now owns 11,918 shares of the company’s stock worth $2,177,000 after purchasing an additional 7,486 shares during the period.

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.