Flutter Entertainment PLC $FLUT Shares Sold by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Flutter Entertainment PLC by 37.8% during the first quarter, owning 28,000 shares valued at approximately $6.2 million after selling 17,000 shares.
• Insider transactions included the sale of 15,283 shares by Daniel Mark Taylor, resulting in a 47.95% decrease in ownership, and a sale of 4,097 shares by CEO Amy Howe, leading to a 5.54% decrease in her ownership.
• Wall Street analysts view Flutter Entertainment positively, with one analyst rating it as a Strong Buy while others have a consensus price target of approximately $332.70 for its stock.

Ilmarinen Mutual Pension Insurance Co lessened its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 37.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,000 shares of the company's stock after selling 17,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Flutter Entertainment were worth $6,203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Plato Investment Management Ltd lifted its holdings in shares of Flutter Entertainment by 24.9% in the 1st quarter. Plato Investment Management Ltd now owns 4,078 shares of the company's stock valued at $913,000 after buying an additional 813 shares during the period. Mudita Advisors LLP lifted its holdings in shares of Flutter Entertainment by 89.3% in the 1st quarter. Mudita Advisors LLP now owns 35,409 shares of the company's stock valued at $7,826,000 after buying an additional 16,700 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of Flutter Entertainment by 538.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 4,150 shares of the company's stock valued at $919,000 after buying an additional 3,500 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Flutter Entertainment by 32.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,157 shares of the company's stock valued at $94,194,000 after buying an additional 103,132 shares during the period. Finally, Fred Alger Management LLC acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at about $3,051,000.

Insiders Place Their Bets

In related news, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 16,589 shares in the company, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares of the company's stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FLUT shares. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Macquarie increased their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Citigroup reissued a "buy" rating on shares of Flutter Entertainment in a report on Thursday, August 14th. One equities research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $332.70.

Flutter Entertainment Price Performance

FLUT stock opened at $292.06 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $296.41 and a 200-day simple moving average of $263.55. The firm has a market capitalization of $51.43 billion, a PE ratio of 143.87 and a beta of 2.29. 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 posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates 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 for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits 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 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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