Aberdeen Group plc Purchases 3,955 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Aberdeen Group plc increased its position in Flutter Entertainment PLC by 44.3%, acquiring an additional 3,955 shares, bringing its total holdings to 12,878 shares worth approximately $3.68 million.
• Flutter Entertainment reported $2.95 earnings per share for the recent quarter, significantly exceeding analysts' expectations of $2.08 and showing 16% year-over-year revenue growth to $4.19 billion.
• The company authorized a $245 million share buyback program, indicating that the board believes the stock is undervalued, while several analysts have set new price targets, with average estimates around $336.26.

Aberdeen Group plc increased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 44.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,878 shares of the company's stock after buying an additional 3,955 shares during the period. Aberdeen Group plc's holdings in Flutter Entertainment were worth $3,680,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new position in shares of Flutter Entertainment during the 2nd quarter valued at about $29,000. SVB Wealth LLC bought a new position in shares of Flutter Entertainment during the 1st quarter valued at about $27,000. Signaturefd LLC boosted its holdings in shares of Flutter Entertainment by 98.5% during the 2nd quarter. Signaturefd LLC now owns 129 shares of the company's stock valued at $37,000 after purchasing an additional 64 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after purchasing an additional 87 shares during the last quarter.

Flutter Entertainment Stock Up 0.1%

Shares of NYSE:FLUT opened at $250.15 on Friday. 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 PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a 50-day moving average price of $279.92 and a 200 day moving average price of $266.97. The company has a market cap of $44.05 billion, a price-to-earnings ratio of 123.23 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data 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 firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has authorized a share buyback program on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding 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 of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Amy Howe sold 4,097 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 69,850 shares of the company's stock, valued at $21,367,813.50. This represents a 5.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock valued at $6,759,745. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on FLUT. Barclays increased their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a report on Friday, August 8th. UBS Group reissued a "buy" rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of Flutter Entertainment in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $336.26.

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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