2,133 Shares in Flutter Entertainment PLC $FLUT Purchased by Elevate Capital Advisors LLC

Key Points

• Elevate Capital Advisors LLC has acquired a new position in Flutter Entertainment PLC, purchasing 2,133 shares valued at approximately $610,000 in the second quarter.
• Flutter Entertainment's stock has received various ratings from analysts, including a "hold (c-)" from Weiss Ratings and an "overweight" rating with a price target increase to $352.00 from Barclays.
• The company recently reported a 16.0% year-over-year revenue increase, reaching $4.19 billion, and is guiding for 4.17 EPS for the current year.

Elevate Capital Advisors LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,133 shares of the company's stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC boosted its holdings in shares of Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after purchasing an additional 110 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Flutter Entertainment in the 1st quarter worth about $27,000. ORG Partners LLC boosted its holdings in shares of Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. purchased a new position in shares of Flutter Entertainment in the 2nd quarter worth about $29,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Flutter Entertainment in a report on Saturday, September 27th. Barclays upped their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. JMP Securities cut their price objective on Flutter Entertainment from $345.00 to $340.00 and set a "market outperform" rating for the company in a report on Wednesday. Kepler Capital Markets upgraded Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. One research 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's stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and a consensus target price of $337.32.

Flutter Entertainment Trading Up 2.7%

NYSE FLUT opened at $256.31 on Friday. Flutter Entertainment PLC has a 1-year low of $196.88 and a 1-year 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 stock has a 50-day moving average of $290.24 and a 200-day moving average of $266.36. The firm has a market cap of $45.14 billion, a PE ratio of 126.26 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The company's revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has approved a share repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the transaction, the chief executive officer owned 31,944 shares of the company's stock, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider directly owned 4,712 shares of the company's stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by company insiders.

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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