Flutter Entertainment PLC $FLUT Position Boosted by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Flutter Entertainment PLC by 4.5%, acquiring an additional 1,154 shares, bringing its total ownership to 26,974 shares valued at approximately $7.7 million.
• Flutter's CEO, Jeremy Peter Jackson, sold 2,112 shares in August, resulting in a 6.20% decrease in his ownership, while insider sales totaled over $6.7 million in the last three months.
• Flutter Entertainment's recent quarterly earnings surpassed analysts' expectations, with a reported EPS of $2.95 and revenue of $4.19 billion, marking a 16.0% year-over-year increase.

Exchange Traded Concepts LLC increased its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,974 shares of the company's stock after acquiring an additional 1,154 shares during the period. Exchange Traded Concepts LLC's holdings in Flutter Entertainment were worth $7,708,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fulton Bank N.A. acquired a new stake in Flutter Entertainment during the 2nd quarter worth about $364,000. Wealth Enhancement Advisory Services LLC bought a new position in Flutter Entertainment in the 2nd quarter worth approximately $621,000. Mn Services Vermogensbeheer B.V. bought a new position in Flutter Entertainment in the 2nd quarter worth approximately $18,889,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Flutter Entertainment by 11.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,128 shares of the company's stock valued at $5,180,000 after purchasing an additional 1,847 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in Flutter Entertainment in the second quarter valued at $405,000.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 approximately $9,341,064.48. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were 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 position. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock worth $6,759,745 in the last 90 days. 0.09% of the stock is currently owned by insiders.

Flutter Entertainment Stock Up 0.8%

FLUT traded up $2.39 during trading on Friday, hitting $284.72. The stock had a trading volume of 1,675,461 shares, compared to its average volume of 1,549,035. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The stock has a 50 day simple moving average of $296.37 and a two-hundred day simple moving average of $264.28. 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 market capitalization of $50.14 billion, a PE ratio of 140.26 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. 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. On average, research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has initiated a stock repurchase program 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 programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several research reports. Kepler Capital Markets raised Flutter Entertainment to a "strong-buy" rating in a research note on Thursday, August 28th. Truist Financial lifted their target price on Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Bank of America boosted their price target on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Barclays upped their price target on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $332.70.

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.