Belpointe Asset Management LLC Makes New $241,000 Investment in Flutter Entertainment PLC $FLUT

Key Points

• Belpointe Asset Management LLC has purchased 1,086 shares of Flutter Entertainment PLC for approximately $241,000 in the first quarter.
• Various institutional investors, including BNP Paribas Financial Markets and Nuveen LLC, have significantly increased their stakes in Flutter Entertainment, indicating growing confidence in the company.
• Flutter Entertainment has announced a share repurchase plan to buy back up to $245 million of its stock, signaling that management believes the shares are undervalued.

Belpointe Asset Management LLC acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,086 shares of the company's stock, valued at approximately $241,000.

Other large investors also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC lifted its position in Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares during the period. SVB Wealth LLC acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at $27,000. Parallel Advisors LLC boosted its holdings in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after acquiring an additional 56 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after buying an additional 87 shares during the period.

Insider Transactions at Flutter Entertainment

In related news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the sale, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the firm's 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 in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock valued at $6,759,745 over the last 90 days. Insiders own 0.09% of the company's stock.

Flutter Entertainment Price Performance

NYSE FLUT traded up $2.39 on Friday, reaching $284.72. 1,675,461 shares of the company's stock traded hands, compared to its average volume of 1,549,035. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $296.37 and a 200 day simple moving average of $264.33. The stock has a market cap of $50.14 billion, a PE ratio of 140.26 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS 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 business 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% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLUT. Oppenheimer upped their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Benchmark reiterated a "buy" rating and set a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. JMP Securities lifted their price target on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Finally, Needham & Company LLC upped their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One equities 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $332.70.

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.