Amundi lifted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 77.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,421,434 shares of the company's stock after acquiring an additional 619,625 shares during the quarter. Amundi owned approximately 0.80% of Flutter Entertainment worth $309,332,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. PARUS FINANCE UK Ltd lifted its holdings in Flutter Entertainment by 1.5% during the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock worth $742,000 after buying an additional 50 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Flutter Entertainment by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock valued at $407,000 after purchasing an additional 53 shares during the period. Harbor Investment Advisory LLC raised its stake 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 buying an additional 56 shares during the period. Parallel Advisors LLC raised its stake 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 buying an additional 60 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after buying an additional 67 shares during the period.
Analysts Set New Price Targets
A number of analysts have commented on the company. JMP Securities boosted their price objective on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Kepler Capital Markets raised Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. Stifel Nicolaus upped their target price on Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a report on Friday, August 8th. Jefferies Financial Group assumed coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 target price for the company. Finally, Citigroup reiterated a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One investment 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 data from MarketBeat, Flutter Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $332.70.
Get Our Latest Stock Report on Flutter Entertainment
Flutter Entertainment Price Performance
FLUT traded down $7.52 during trading on Monday, reaching $287.76. The stock had a trading volume of 2,441,046 shares, compared to its average volume of 2,275,071. The business has a 50-day moving average of $296.23 and a 200-day moving average of $263.24. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The stock has a market cap of $50.67 billion, a PE ratio of 141.75 and a beta of 2.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.87. The company 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 firm's 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, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.
Flutter Entertainment declared that its board has initiated a stock buyback plan on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.
Insiders Place Their Bets
In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares of the company's stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares of the company's stock, valued at $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. 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 three months. Company insiders own 0.09% of the company's stock.
Flutter Entertainment Company Profile
(
Free Report)
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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