Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $320.00 at Citigroup

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target dropped by investment analysts at Citigroup from $340.00 to $320.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 53.31% from the company's previous close.

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Other analysts have also issued reports about the stock. Barclays lowered their price target on shares of Flutter Entertainment from $352.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Flutter Entertainment in a report on Tuesday. Wells Fargo & Company initiated coverage on Flutter Entertainment in a report on Tuesday, November 18th. They set an "overweight" rating and a $272.00 target price on the stock. BTIG Research cut their price target on shares of Flutter Entertainment from $321.00 to $271.00 and set a "buy" rating on the stock in a report on Thursday, November 13th. Finally, Sanford C. Bernstein cut their target price on shares of Flutter Entertainment from $330.00 to $325.00 and set a "market perform" rating on the stock in a report on Monday, November 3rd. Three 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $311.89.

View Our Latest Report on Flutter Entertainment

Flutter Entertainment Stock Up 4.4%

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Shares of NYSE FLUT traded up $8.81 during mid-day trading on Friday, reaching $208.73. The company had a trading volume of 1,382,750 shares, compared to its average volume of 2,375,873. The firm has a 50 day simple moving average of $237.05 and a two-hundred day simple moving average of $265.24. The stock has a market cap of $36.59 billion, a P/E ratio of 102.82 and a beta of 1.84. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment has a 52-week low of $189.33 and a 52-week high of $313.68.

Flutter Entertainment declared that its board has authorized a share buyback program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

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Several hedge funds and other institutional investors have recently made changes to their positions in FLUT. CIBC Bancorp USA Inc. acquired a new position in shares of Flutter Entertainment during the 3rd quarter worth about $1,609,000. Alpine Global Management LLC bought a new stake in Flutter Entertainment in the 3rd quarter valued at $356,000. Coldstream Capital Management Inc. bought a new position in shares of Flutter Entertainment during the 3rd quarter worth about $207,000. Danske Bank A S acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $12,294,000. Finally, Morningstar Investment Management LLC bought a new stake in shares of Flutter Entertainment in the third quarter valued at about $1,310,000.

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.

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