1,175 Shares in Flutter Entertainment PLC $FLUT Bought by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC purchased 1,175 shares of Flutter Entertainment PLC, valued at around $336,000, during the second quarter.
• Flutter Entertainment has seen significant increases in institutional ownership, with BNP Paribas Financial Markets boosting its stake by 196.5% earlier this year.
• Insider trades revealed that CEO Amy Howe sold 4,097 shares, while another insider sold 1,904 shares, indicating a decrease in their holdings.

Apollon Wealth Management LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,175 shares of the company's stock, valued at approximately $336,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FLUT. BNP Paribas Financial Markets boosted its holdings in Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after acquiring an additional 1,322,016 shares during the last quarter. Nuveen LLC acquired a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $289,627,000. Primecap Management Co. CA acquired a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $210,940,000. Alliancebernstein L.P. lifted its position in shares of Flutter Entertainment by 2,312.7% in the 1st quarter. Alliancebernstein L.P. now owns 844,855 shares of the company's stock worth $187,178,000 after purchasing an additional 809,838 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Flutter Entertainment by 376.4% during the first quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock worth $187,304,000 after buying an additional 675,949 shares during the last quarter.

Insider Buying and Selling

In related news, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares of the company's stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock worth $6,759,745 in the last ninety days. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. JMP Securities decreased their price target on Flutter Entertainment from $345.00 to $340.00 and set a "market outperform" rating for the company in a report on Wednesday, October 1st. Macquarie upped their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. UBS Group reissued a "buy" rating and issued a $360.00 price target (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Citigroup reissued a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $336.26.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $251.97 on Friday. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a market cap of $44.37 billion, a P/E ratio of 124.12 and a beta of 1.91. The company has a fifty day simple moving average of $279.33 and a 200 day simple moving average of $267.17. 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 (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The company's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Flutter Entertainment 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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