Flutter Entertainment PLC $FLUT Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC reduced its stake in Flutter Entertainment by 17.3%, selling 140,362 shares and bringing its total ownership to 670,398 shares valued at approximately $191.57 million.
• Flutter Entertainment reported a significant quarterly revenue increase of 16.0% year-over-year, achieving $4.19 billion, and exceeding analysts' expectations of $3.06 billion.
• The company has authorized a $245.00 million share repurchase plan, signifying that management believes its stock is undervalued.

William Blair Investment Management LLC decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 17.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 670,398 shares of the company's stock after selling 140,362 shares during the quarter. William Blair Investment Management LLC owned 0.38% of Flutter Entertainment worth $191,573,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. ORG Partners LLC boosted its stake in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after acquiring an additional 75 shares in the last quarter. Barrett & Company Inc. purchased a new stake in shares of Flutter Entertainment during the second quarter valued at $29,000. SVB Wealth LLC purchased a new stake in shares of Flutter Entertainment during the first quarter valued at $27,000. Signaturefd LLC boosted its position in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company's stock valued at $37,000 after purchasing an additional 64 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Flutter Entertainment by 90.6% in the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock worth $41,000 after purchasing an additional 87 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on FLUT shares. Stifel Nicolaus raised their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Needham & Company LLC upped their price target on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Peel Hunt cut shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. JMP Securities cut their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a "market outperform" rating on the stock in a research note on Wednesday, October 1st. Finally, Truist Financial increased their target price on Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus price target of $336.26.

Flutter Entertainment Stock Up 0.8%

FLUT stock opened at $251.97 on Friday. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. 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 company has a market cap of $44.37 billion, a price-to-earnings ratio of 124.12 and a beta of 1.91. The company has a 50 day moving average of $279.33 and a two-hundred day moving average of $267.17.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly 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 net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. The firm's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities 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 authorized a share repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were 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. The trade was a 47.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by company insiders.

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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