Alliancebernstein L.P. Has $187.18 Million Stock Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Alliancebernstein L.P. increased its stake in Flutter Entertainment PLC by 2,312.7% in Q1, acquiring an additional 809,838 shares to own approximately $187 million worth of the company's stock.
• Flutter's CEO, Amy Howe, sold 4,097 shares for over $1.25 million, reducing her ownership by 5.54% to about 69,850 shares.
• Flutter Entertainment has attracted positive attention from analysts, with Barclays raising its price target to $352 and a consensus rating of "Moderate Buy" among analysts covering the stock.

Alliancebernstein L.P. increased its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 2,312.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 844,855 shares of the company's stock after buying an additional 809,838 shares during the period. Alliancebernstein L.P. owned 0.48% of Flutter Entertainment worth $187,178,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in Flutter Entertainment by 5.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock valued at $715,737,000 after purchasing an additional 167,621 shares during the last quarter. Egerton Capital UK LLP increased its position in shares of Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock worth $486,035,000 after purchasing an additional 316,411 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock worth $441,916,000 after purchasing an additional 1,322,016 shares in the last quarter. Deutsche Bank AG increased its position in shares of Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock worth $409,816,000 after purchasing an additional 634,497 shares in the last quarter. Finally, Amundi grew its holdings in Flutter Entertainment by 77.3% during the 1st quarter. Amundi now owns 1,421,434 shares of the company's stock worth $309,332,000 after acquiring an additional 619,625 shares during the last quarter.

Analysts Set New Price Targets

FLUT has been the topic of a number of research analyst reports. 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. Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Sanford C. Bernstein reissued a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $332.70.

Flutter Entertainment Trading Up 0.0%

Shares of NYSE FLUT traded up $0.00 during mid-day trading on Wednesday, hitting $291.94. The company's stock had a trading volume of 311,645 shares, compared to its average volume of 2,260,233. The stock has a market cap of $51.41 billion, a price-to-earnings ratio of 143.64 and a beta of 2.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The company's fifty day simple moving average is $296.41 and its 200-day simple moving average is $263.55.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company'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. On average, sell-side analysts anticipate 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 share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, insider James Philip Bishop sold 1,904 shares of the 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 sale, the insider directly owned 4,712 shares in the company, valued at $1,327,087.68. This trade represents a 28.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the sale, the insider owned 16,589 shares in the company, valued at $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,396 shares of company stock valued at $6,759,745. Insiders own 0.09% of the company's stock.

About Flutter Entertainment

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.