Royal Bank of Canada Sells 4,590 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Royal Bank of Canada reduced its holdings in Flutter Entertainment PLC by 1.4%, selling 4,590 shares during the first quarter, now owning 316,294 shares valued at approximately $70 million.
• CEO Jeremy Peter Jackson sold 2,112 shares for $617,591, while fellow CEO Amy Howe sold 4,097 shares for $1.25 million, indicating a decrease in insider ownership.
• Flutter Entertainment's EPS of $2.95 exceeded estimates, with quarterly revenue of $4.19 billion marking a 16% increase year-over-year, and the company announced a stock repurchase program worth $245 million.

Royal Bank of Canada lowered its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,294 shares of the company's stock after selling 4,590 shares during the quarter. Royal Bank of Canada owned approximately 0.18% of Flutter Entertainment worth $70,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares in the last quarter. SVB Wealth LLC bought a new stake in Flutter Entertainment in the first quarter worth $27,000. Parallel Advisors LLC boosted its position in Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Flutter Entertainment during the fourth quarter valued at about $33,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock valued at $41,000 after buying an additional 56 shares during the last quarter.

Flutter Entertainment Trading Down 0.1%

Shares of FLUT traded down $0.43 during mid-day trading on Wednesday, hitting $291.51. 1,136,109 shares of the company's stock traded hands, compared to its average volume of 1,509,821. 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 firm has a market capitalization of $51.33 billion, a P/E ratio of 143.60 and a beta of 2.29. The business's 50-day moving average price is $296.59 and its 200-day moving average price is $263.74. 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 announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company 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 company'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, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a share buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction 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. The trade was a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Mark Taylor sold 15,283 shares of the company's 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 transaction, the insider owned 16,589 shares in the company, valued at $4,724,547.20. This trade represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FLUT shares. Bank of America boosted their target price on Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group reaffirmed a "buy" rating and issued a $360.00 price target (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Zacks Research raised Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Barclays raised their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $332.70.

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.