Flutter Entertainment (NYSE:FLUT) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $320.00 price target on the stock.

Several other brokerages have also recently commented on FLUT. The Goldman Sachs Group assumed coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They set a “buy” rating and a $320.00 price target on the stock. Moffett Nathanson upped their target price on Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Oppenheimer raised their price target on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. BTIG Research boosted their price target on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Macquarie began coverage on Flutter Entertainment in a report on Wednesday, December 11th. They issued an “outperform” rating and a $340.00 price objective for the company. Seventeen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $304.44.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $263.03 on Friday. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $284.79. The company’s fifty day simple moving average is $265.79 and its 200-day simple moving average is $232.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Flutter Entertainment announced that its board has initiated a share repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC lifted its holdings in shares of Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. raised its stake in Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares during the period. US Bancorp DE grew 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 worth $56,000 after purchasing an additional 99 shares in the last quarter. Finally, Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment during the fourth quarter worth approximately $26,000.

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.