28,535 Shares in Flutter Entertainment PLC $FLUT Acquired by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC acquired 28,535 shares of Flutter Entertainment PLC for approximately $8.15 million during the 2nd quarter.
• Flutter Entertainment reported a quarterly earnings per share (EPS) of $2.95, exceeding estimates by $0.87, with revenue of $4.19 billion for the quarter.
• The company has authorized a $245 million stock buyback program, reflecting a belief that its shares are undervalued.

Galvin Gaustad & Stein LLC purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,535 shares of the company's stock, valued at approximately $8,154,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. PARUS FINANCE UK Ltd lifted its stake in shares of Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock valued at $742,000 after purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC raised its stake in Flutter Entertainment by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock valued at $407,000 after buying an additional 53 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 44.9% in the 2nd quarter. Parallel Advisors LLC now owns 197 shares of the company's stock worth $56,000 after purchasing an additional 61 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company's stock worth $37,000 after purchasing an additional 64 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Flutter Entertainment by 1.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after purchasing an additional 67 shares in the last quarter.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $248.08 on Friday. The stock's 50-day simple moving average is $285.49 and its 200-day simple moving average is $266.42. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 122.21 and a beta of 1.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. The firm's revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts expect 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 authorized a stock buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock valued at $6,759,745 over the last three months. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on FLUT. Peel Hunt lowered Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Stifel Nicolaus lifted their target price on Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research report on Friday, August 8th. BTIG Research lowered their target price on Flutter Entertainment from $357.00 to $324.00 and set a "buy" rating on the stock in a research report on Thursday, October 2nd. Finally, Citigroup reiterated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $337.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.