The Goldman Sachs Group Initiates Coverage on Flutter Entertainment (NYSE:FLUT)

Stock analysts at The Goldman Sachs Group began coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $320.00 price target on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 19.41% from the stock’s current price.

FLUT has been the subject of a number of other research reports. Moffett Nathanson boosted their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. UBS Group initiated coverage on shares of Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC boosted their price target on shares of Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Fifteen 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.com, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $297.79.

Flutter Entertainment Trading Up 1.7 %

Shares of FLUT stock opened at $267.98 on Friday. The firm has a fifty day moving average price of $236.65 and a 200 day moving average price of $211.69. Flutter Entertainment has a 12 month low of $150.65 and a 12 month high of $270.95.

Flutter Entertainment declared that its board has initiated a stock repurchase program on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the second quarter worth about $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $40,000. US Bancorp DE grew its position in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $82,000. Finally, Hilltop National Bank acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $101,000.

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.