Calamos Wealth Management LLC Cuts Stock Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Calamos Wealth Management LLC reduced its holdings in Flutter Entertainment PLC by 18% in the second quarter, owning 8,250 shares after selling 1,813 shares.
• Flutter Entertainment's stock has been recently rated with two buy ratings and one downgrade among analysts, leading to a consensus target price of approximately $336.26.
• The company announced a share buyback program worth $245 million, indicating that its Board believes the shares are currently undervalued.

Calamos Wealth Management LLC trimmed its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,250 shares of the company's stock after selling 1,813 shares during the period. Calamos Wealth Management LLC's holdings in Flutter Entertainment were worth $2,358,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in Flutter Entertainment during the first quarter valued at about $27,000. ORG Partners LLC boosted its position in Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company's stock valued at $28,000 after buying an additional 75 shares during the period. Barrett & Company Inc. purchased a new stake in Flutter Entertainment during the second quarter valued at about $29,000. Signaturefd LLC boosted its position in Flutter Entertainment by 98.5% during the second quarter. Signaturefd LLC now owns 129 shares of the company's stock valued at $37,000 after buying an additional 64 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Flutter Entertainment by 90.6% during the first quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after acquiring an additional 87 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Sanford C. Bernstein lowered their price objective on shares of Flutter Entertainment from $340.00 to $330.00 and set a "market perform" rating for the company in a research note on Wednesday. Benchmark lowered their price objective on shares of Flutter Entertainment from $365.00 to $310.00 and set a "buy" rating for the company in a research note on Wednesday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Flutter Entertainment in a research note on Wednesday, October 8th. Finally, UBS Group reaffirmed a "buy" rating and set a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and a consensus target price of $336.26.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $251.97 on Friday. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year 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 company's 50-day moving average is $279.33 and its 200 day moving average is $267.43. The stock has a market capitalization of $44.37 billion, a P/E ratio of 124.12 and a beta of 1.91.

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 (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion for the quarter, compared to analysts' expectations 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. On average, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer owned 31,944 shares in the company, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,396 shares of company stock worth $6,759,745 in the last ninety days. 0.09% of the stock is owned by company 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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