Credit Agricole S A Sells 19,891 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Credit Agricole S A sold 19,891 shares of Flutter Entertainment PLC, reducing its stake by 65% and now holds 10,703 shares valued at approximately $2.37 million.
• Multiple hedge funds, including NewEdge Advisors LLC and MML Investors Services LLC, have either increased their positions or initiated new investments in Flutter Entertainment during the fourth quarter.
• Flutter Entertainment reported a quarterly earnings per share (EPS) of $2.95, significantly outpacing analysts' expectations of $2.08, with revenues of $4.19 billion, up 16% year-over-year.

Credit Agricole S A decreased its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 65.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,703 shares of the company's stock after selling 19,891 shares during the period. Credit Agricole S A's holdings in Flutter Entertainment were worth $2,371,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in FLUT. NewEdge Advisors LLC boosted its position in Flutter Entertainment by 21.7% during the fourth quarter. NewEdge Advisors LLC now owns 1,358 shares of the company's stock worth $352,000 after purchasing an additional 242 shares during the period. MML Investors Services LLC boosted its position in Flutter Entertainment by 101.0% during the fourth quarter. MML Investors Services LLC now owns 7,140 shares of the company's stock worth $1,845,000 after purchasing an additional 3,588 shares during the period. TD Waterhouse Canada Inc. bought a new position in Flutter Entertainment during the fourth quarter worth about $36,000. Tower Research Capital LLC TRC bought a new position in Flutter Entertainment during the fourth quarter worth about $33,000. Finally, Stifel Financial Corp bought a new position in Flutter Entertainment during the fourth quarter worth about $1,401,000.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $244.12, for a total transaction of $64,447.68. Following the completion of the sale, the director directly owned 559 shares in the company, valued at $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the sale, the chief executive officer owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,754 shares of company stock valued at $6,108,064 over the last quarter. Company insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on FLUT shares. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Macquarie increased their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Canaccord Genuity Group increased their target price on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Citigroup reiterated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Price Performance

FLUT stock opened at $299.3870 on Friday. The firm has a 50 day moving average of $290.29 and a 200-day moving average of $262.05. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The firm has a market capitalization of $52.72 billion, a P/E ratio of 147.48, a price-to-earnings-growth ratio of 1.45 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.06 billion. 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. As a group, 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 of Directors has initiated a stock repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.

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