UBS Group Lowers Flutter Entertainment (NYSE:FLUT) Price Target to $320.00

Flutter Entertainment (NYSE:FLUT) had its price objective dropped by research analysts at UBS Group from $340.00 to $320.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 53.85% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Tuesday. Citigroup dropped their price objective on shares of Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a report on Friday. BTIG Research reduced their target price on Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Hsbc Global Res upgraded Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Finally, Kepler Capital Markets raised Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, August 28th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.84.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $208.00 on Friday. Flutter Entertainment has a 12-month low of $189.33 and a 12-month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market cap of $36.46 billion, a PE ratio of 102.46 and a beta of 1.84. The stock has a 50-day moving average price of $235.52 and a 200-day moving average price of $265.13.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently bought and sold shares of the stock. SVB Wealth LLC purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $27,000. JFS Wealth Advisors LLC bought a new position in shares of Flutter Entertainment in the third quarter worth approximately $27,000. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. purchased a new position in shares of Flutter Entertainment in the second quarter worth $29,000. Finally, JCIC Asset Management Inc. bought a new stake in Flutter Entertainment during the 3rd quarter valued at $32,000.

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.