Allstate Corp raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 26.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,691 shares of the company's stock after purchasing an additional 1,392 shares during the quarter. Allstate Corp's holdings in Flutter Entertainment were worth $1,482,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its holdings 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 lifted its holdings in Flutter Entertainment by 16.9% during the 1st quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock valued at $486,035,000 after purchasing an additional 316,411 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in Flutter Entertainment during the 4th quarter valued at $494,291,000. Deutsche Bank AG lifted its holdings in Flutter Entertainment by 52.2% during the 1st quarter. Deutsche Bank AG now owns 1,849,769 shares of the company's stock valued at $409,816,000 after purchasing an additional 634,497 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Flutter Entertainment during the 1st quarter valued at $289,627,000.
Insider Buying and Selling
In related news, Director Carolan Lennon sold 430 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the transaction, the director owned 769 shares in the company, valued at approximately $188,950.99. This trade represents a 35.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Bryant sold 418 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the transaction, the director owned 5,956 shares in the company, valued at $1,463,448.76. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,754 shares of company stock valued at $6,108,064 in the last ninety days. Insiders own 0.09% of the company's stock.
Flutter Entertainment Stock Up 1.5%
Shares of NYSE FLUT opened at $299.3870 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The stock has a market capitalization of $52.72 billion, a P/E ratio of 147.48, a PEG ratio of 1.45 and a beta of 2.31. The stock's fifty day moving average is $290.29 and its 200 day moving average is $262.05.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.06 billion. The company's 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 forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.
Flutter Entertainment declared that its board has initiated a share buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several brokerages have issued reports on FLUT. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. Truist Financial lifted their target price on Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Benchmark reissued a "buy" rating and set a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. JMP Securities lifted their target price on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Finally, Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and an average target price of $332.70.
Get Our Latest Stock Analysis on FLUT
About Flutter Entertainment
(
Free Report)
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.
Further Reading
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