Flutter Entertainment PLC $FLUT Shares Bought by Argentarii LLC

Key Points

• Argentarii LLC increased its stake in Flutter Entertainment PLC by 55.6%, owning 2,642 shares worth $755,000 after acquiring an additional 944 shares in the second quarter.
• Several analysts have raised their price targets for Flutter Entertainment, with estimates reaching as high as $365.00, indicating strong confidence in the stock's performance.
• Flutter Entertainment reported strong quarterly earnings with $4.19 billion in revenue and an EPS of $2.95, significantly exceeding consensus estimates.

Argentarii LLC lifted its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 55.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,642 shares of the company's stock after acquiring an additional 944 shares during the quarter. Argentarii LLC's holdings in Flutter Entertainment were worth $755,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Flutter Entertainment by 163.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,242 shares of the company's stock worth $321,000 after buying an additional 771 shares during the last quarter. State of Wyoming grew its stake in Flutter Entertainment by 19.1% during the 4th quarter. State of Wyoming now owns 536 shares of the company's stock worth $139,000 after buying an additional 86 shares during the last quarter. Tidal Investments LLC bought a new position in Flutter Entertainment during the 4th quarter worth $661,000. Sylebra Capital LLC bought a new position in Flutter Entertainment during the 4th quarter worth $5,677,000. Finally, Mackenzie Financial Corp bought a new position in Flutter Entertainment during the 4th quarter worth $2,250,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Macquarie upped their price objective on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. UBS Group reiterated a "buy" rating and set a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Barclays boosted their price target on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Benchmark reiterated a "buy" rating and set a $365.00 price target (up previously from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $332.70.

Flutter Entertainment Trading Up 0.4%

Shares of NYSE FLUT opened at $285.50 on Tuesday. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a market cap of $50.28 billion, a price-to-earnings ratio of 140.64 and a beta of 2.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $296.17 and a 200-day simple moving average of $264.60.

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 the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a stock repurchase program on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the 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 completion of the sale, the chief executive officer directly owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the completion of the sale, the insider directly owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock valued at $6,759,745 in the last 90 days. Insiders own 0.09% of the company's stock.

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.

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