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

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

Several other equities analysts also recently commented on FLUT. Bank of America initiated coverage on Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price for the company. Macquarie started coverage on shares of Flutter Entertainment in a research report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price on the stock. Benchmark upped their price target on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group lifted their price target on shares of Flutter Entertainment from $308.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Wednesday. Sixteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and a consensus target price of $303.40.

Flutter Entertainment Trading Up 1.5 %

Shares of NYSE:FLUT opened at $255.58 on Wednesday. Flutter Entertainment has a 52-week low of $158.43 and a 52-week high of $284.79. The company has a fifty day moving average of $262.65 and a 200-day moving average of $229.62.

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

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC purchased a new stake in shares of Flutter Entertainment in the second quarter valued at about $285,000. TD Asset Management Inc bought a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $8,920,000. Prudential PLC boosted its stake in shares of Flutter Entertainment by 4.6% in the 2nd quarter. Prudential PLC now owns 15,168 shares of the company’s stock worth $2,766,000 after buying an additional 666 shares during the last quarter. Choreo LLC purchased a new position in Flutter Entertainment in the second quarter worth $208,000. Finally, Wellington Shields & Co. LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at $322,000.

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.