Corient IA LLC Purchases New Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Corient IA LLC has acquired a new position in Flutter Entertainment PLC by purchasing 3,126 shares valued at approximately $693,000, according to a recent SEC filing.
• Flutter Entertainment has reported a EPS of $2.95 for the quarter, significantly beating expectations and showcasing a 16% increase in revenue year-over-year.
• The company has initiated a $245 million stock repurchase program, signaling confidence from its board regarding the stock’s valuation.

Corient IA LLC acquired a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,126 shares of the company's stock, valued at approximately $693,000.

Other hedge funds also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC grew 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 worth $26,000 after acquiring an additional 110 shares during the period. Parallel Advisors LLC boosted its position in shares of Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after buying an additional 60 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Flutter Entertainment during the fourth quarter worth $33,000. TD Waterhouse Canada Inc. purchased a new position in shares of Flutter Entertainment during the fourth quarter worth $36,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after buying an additional 56 shares during the period.

Flutter Entertainment Stock Up 0.1%

NYSE FLUT traded up $0.4340 during trading on Thursday, reaching $294.9640. 998,105 shares of the company's stock were exchanged, compared to its average volume of 2,317,407. The stock has a market cap of $51.94 billion, a P/E ratio of 145.30, a price-to-earnings-growth ratio of 1.21 and a beta of 2.31. 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 50 day moving average price of $289.14 and a two-hundred day moving average price of $261.62. Flutter Entertainment PLC has a 1 year low of $196.88 and a 1 year high of $313.68.

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, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during 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 firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at Flutter Entertainment

In other news, Director Christine M. Mccarthy sold 264 shares of Flutter Entertainment stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the sale, the director owned 559 shares in the company, valued at approximately $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment 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 sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,642 shares of company stock worth $5,490,473 over the last three months. Company insiders own 0.09% of the company's stock.

Analyst Ratings Changes

FLUT has been the subject of several research analyst reports. Bank of America raised their price target on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Macquarie raised their price target on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, JMP Securities raised their price target on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $328.62.

Flutter Entertainment Profile

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.