American Century Companies Inc. Raises Position in Flutter Entertainment PLC $FLUT

Key Points

• American Century Companies Inc. significantly increased its stake in Flutter Entertainment by 122.1%, acquiring 1,430 additional shares during the first quarter, bringing its total holding to 2,601 shares valued at $576,000.
• Analysts have reacted positively to Flutter Entertainment, with multiple firms raising the company's price target and a majority issuing a buy or outperform rating, indicating strong market confidence.
• Flutter Entertainment reported impressive quarterly earnings with an EPS of $2.95, exceeding estimates, and a revenue of $4.19 billion, reflecting a 16% year-over-year increase.

American Century Companies Inc. raised its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 122.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,601 shares of the company's stock after acquiring an additional 1,430 shares during the period. American Century Companies Inc.'s holdings in Flutter Entertainment were worth $576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC increased its position in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after purchasing an additional 110 shares during the period. Tower Research Capital LLC TRC acquired a new position in Flutter Entertainment during the 4th quarter worth approximately $33,000. Parallel Advisors LLC increased its position in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after purchasing an additional 60 shares during the period. Farther Finance Advisors LLC increased its position 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 purchasing an additional 87 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after purchasing an additional 56 shares during the period.

Insider Buying and Selling

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the transaction, the insider owned 16,589 shares of the company's stock, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $536,242.56. Following the transaction, the insider directly owned 4,712 shares in the company, valued at approximately $1,327,087.68. This 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 90 days. Corporate insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FLUT shares. Benchmark reiterated a "buy" rating and set a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Jefferies Financial Group started coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They set a "buy" rating and a $380.00 target price on the stock. Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Canaccord Genuity Group upped their price target on Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $7.52 during trading hours on Monday, reaching $287.76. 2,459,607 shares of the company traded hands, compared to its average volume of 1,522,570. The firm's 50-day moving average is $296.27 and its 200-day moving average is $263.35. The stock has a market cap of $50.67 billion, a P/E ratio of 141.75 and a beta of 2.30. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. 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 earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business's revenue for the quarter was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

Flutter Entertainment Company 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.