Sumitomo Mitsui DS Asset Management Company Ltd Has $5.18 Million Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Flutter Entertainment PLC by 11.3% during the second quarter, owning 18,128 shares valued at approximately $5.18 million.
• Flutter Entertainment reported $2.95 earnings per share, surpassing analysts' estimate of $2.08, and revenue rose by 16.0% year-over-year to $4.19 billion.
• The company has authorized a $245 million stock repurchase plan, indicating management's belief that shares are undervalued.

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,128 shares of the company's stock after purchasing an additional 1,847 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Flutter Entertainment were worth $5,180,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Flutter Entertainment by 326.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock valued at $742,000 after purchasing an additional 2,483 shares during the period. Whalen Wealth Management Inc. bought a new stake in Flutter Entertainment in the 1st quarter valued at $380,000. Rubicon Global Capital Ltd boosted its holdings in Flutter Entertainment by 56.1% in the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock valued at $15,564,000 after purchasing an additional 25,250 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Flutter Entertainment by 0.6% during the 1st quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock worth $88,021,000 after acquiring an additional 2,478 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock worth $1,060,000 after acquiring an additional 67 shares during the period.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's 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 completion of the sale, the chief executive officer owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the company's stock in a transaction that occurred on 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 directly owned 69,850 shares of the company's stock, valued at $21,367,813.50. The trade was 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 over the last three months. Company insiders own 0.09% of the company's stock.

Flutter Entertainment Trading Up 0.8%

Shares of FLUT traded up $2.39 on Friday, reaching $284.72. 1,675,461 shares of the company's stock were exchanged, compared to its average volume of 1,549,035. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $50.14 billion, a P/E ratio of 140.26 and a beta of 2.29. The business has a 50 day moving average price of $296.37 and a two-hundred day moving average price of $264.28. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its 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 firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The business's revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Research analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLUT shares. Jefferies Financial Group started coverage on shares of Flutter Entertainment in a report on Tuesday, July 8th. They set a "buy" rating and a $380.00 price objective for the company. Canaccord Genuity Group raised their price objective on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a report on Friday, August 8th. UBS Group reaffirmed a "buy" rating and set a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, Kepler Capital Markets raised shares of Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $332.70.

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.