Ameriprise Financial Inc. Grows Stake in Flutter Entertainment PLC $FLUT

Key Points

• Ameriprise Financial Inc. increased its stake in Flutter Entertainment PLC by 168.6%, owning approximately 0.35% of the company worth $135.96 million as of its latest SEC filing.
• Flutter Entertainment reported earnings of $2.95 per share for the most recent quarter, exceeding estimates by $0.87, with a revenue of $4.19 billion, a 16.0% year-over-year increase.
• The company's Board of Directors approved a share repurchase program to buy back $245 million of its stock, indicating confidence in the company's valuation.

Ameriprise Financial Inc. raised its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 168.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,666 shares of the company's stock after acquiring an additional 385,219 shares during the period. Ameriprise Financial Inc. owned approximately 0.35% of Flutter Entertainment worth $135,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Fund Management S.A. bought a new position in shares of Flutter Entertainment during the first quarter valued at $21,522,000. Hsbc Holdings PLC lifted its holdings in shares of Flutter Entertainment by 376.4% during the first quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock valued at $187,304,000 after purchasing an additional 675,949 shares in the last quarter. Matthew 25 Management Corp lifted its holdings in shares of Flutter Entertainment by 70.8% during the first quarter. Matthew 25 Management Corp now owns 58,500 shares of the company's stock valued at $12,961,000 after purchasing an additional 24,250 shares in the last quarter. Senator Investment Group LP lifted its holdings in shares of Flutter Entertainment by 19.4% during the first quarter. Senator Investment Group LP now owns 256,290 shares of the company's stock valued at $56,781,000 after purchasing an additional 41,686 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Flutter Entertainment by 37.6% during the first quarter. Quantbot Technologies LP now owns 21,578 shares of the company's stock valued at $4,781,000 after purchasing an additional 5,894 shares in the last quarter.

Flutter Entertainment Stock Up 1.5%

FLUT stock opened at $299.3870 on Friday. Flutter Entertainment PLC has a fifty-two week low of $196.88 and a fifty-two week high of $313.68. The business's 50-day moving average is $290.29 and its two-hundred day moving average is $262.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 147.48, a P/E/G ratio of 1.45 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted 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. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a share repurchase program on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FLUT shares. Truist Financial upped their price target on Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. JMP Securities upped their price target on Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Oppenheimer upped their price target on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Zacks Research raised Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Needham & Company LLC increased their target price on Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $332.70.

Insiders Place Their Bets

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the company'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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the sale, the insider owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,754 shares of company stock valued at $6,108,064. 0.09% of the stock is currently owned by corporate insiders.

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.

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