APG Asset Management N.V. decreased its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,400 shares of the company's stock after selling 2,600 shares during the period. APG Asset Management N.V.'s holdings in Flutter Entertainment were worth $5,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Flutter Entertainment by 326.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock worth $742,000 after acquiring an additional 2,483 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Flutter Entertainment in the 1st quarter worth $380,000. Rubicon Global Capital Ltd raised its stake in Flutter Entertainment by 56.1% in the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after acquiring an additional 25,250 shares during the last quarter. Bessemer Group Inc. raised its stake in Flutter Entertainment by 0.6% in the 1st quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock worth $88,021,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in 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 acquiring an additional 67 shares during the last quarter.
Insider Transactions at Flutter Entertainment
In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment 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 completion of the transaction, the chief executive officer owned 31,944 shares in the company, valued at $9,341,064.48. The trade was a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the transaction, the director owned 769 shares of the company's stock, valued at approximately $188,950.99. This represents a 35.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,754 shares of company stock worth $6,108,064 over the last quarter. Company insiders own 0.09% of the company's stock.
Flutter Entertainment Price Performance
Shares of Flutter Entertainment stock opened at $300.64 on Wednesday. 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 PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The business has a 50-day moving average price of $291.46 and a 200 day moving average price of $262.51. The firm has a market cap of $52.94 billion, a PE ratio of 148.10, a P/E/G ratio of 1.46 and a beta of 2.31.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share 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 firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. 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. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.
Flutter Entertainment announced that its board has approved a stock buyback program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
A number of equities analysts have weighed in on FLUT shares. Canaccord Genuity Group lifted their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Benchmark reiterated a "buy" rating and set a $365.00 price objective (up previously from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Peel Hunt lowered Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Barclays lifted their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.70.
Check Out Our Latest Report 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.
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