Flutter Entertainment PLC $FLUT Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its Flutter Entertainment PLC shares by 23.1% during Q2, owning a total of 23,820 shares valued at $6.81 million.
• Flutter Entertainment reported earnings of $2.95 per share, exceeding analyst expectations by $0.87, and its revenue rose 16.0% year-over-year to $4.19 billion.
• The company announced a $245 million stock repurchase program, indicating management's belief that its shares are currently undervalued.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 23.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,820 shares of the company's stock after selling 7,144 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Flutter Entertainment were worth $6,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in Flutter Entertainment by 196.5% in the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock valued at $441,916,000 after buying an additional 1,322,016 shares during the last quarter. Nuveen LLC acquired a new position in shares of Flutter Entertainment in the 1st quarter worth approximately $289,627,000. Primecap Management Co. CA purchased a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $210,940,000. Alliancebernstein L.P. boosted its position in shares of Flutter Entertainment by 2,312.7% during the 1st quarter. Alliancebernstein L.P. now owns 844,855 shares of the company's stock worth $187,178,000 after purchasing an additional 809,838 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Flutter Entertainment by 376.4% in the 1st quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock valued at $187,304,000 after purchasing an additional 675,949 shares during the last quarter.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $256.31 on Monday. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The company has a market cap of $45.14 billion, a PE ratio of 126.26 and a beta of 1.91. 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 business has a 50-day simple moving average of $290.24 and a 200-day simple moving average of $266.71.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The business's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized 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 reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FLUT shares. UBS Group restated a "buy" rating and set a $360.00 price target (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of Flutter Entertainment in a research note on Saturday, September 27th. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Oppenheimer boosted their price target on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Barclays raised their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $337.32.

Insider Activity

In related news, CEO Amy Howe sold 4,097 shares of the 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 $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by company insiders.

About Flutter Entertainment

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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