Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $285.00 at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) had its price target decreased by Wells Fargo & Company from $300.00 to $285.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. JMP Securities increased their price target on Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a research note on Monday. Craig Hallum increased their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group boosted their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Moffett Nathanson raised their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Susquehanna lowered their target price on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating on the stock in a report on Wednesday. Sixteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $303.40.

Flutter Entertainment Trading Up 1.5 %

Flutter Entertainment stock opened at $255.58 on Wednesday. The business’s 50 day simple moving average is $262.65 and its 200 day simple moving average is $229.62. Flutter Entertainment has a 12 month low of $158.43 and a 12 month high of $284.79.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in shares of Flutter Entertainment by 71.7% during the 3rd 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 purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $82,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at $190,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Flutter Entertainment by 93.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,077 shares of the company’s stock valued at $197,000 after purchasing an additional 520 shares during the last quarter. Finally, Seelaus Asset Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter worth $204,000.

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.