Federation des caisses Desjardins du Quebec Raises Stock Position in Flutter Entertainment PLC $FLUT

Federation des caisses Desjardins du Quebec increased its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 99.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,432 shares of the company's stock after buying an additional 3,700 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Flutter Entertainment were worth $1,646,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FLUT. GPS Wealth Strategies Group LLC raised its position 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 worth $26,000 after acquiring an additional 110 shares in the last quarter. SVB Wealth LLC purchased a new position in Flutter Entertainment in the first quarter worth $27,000. Parallel Advisors LLC grew its position in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Flutter Entertainment in the fourth quarter worth $33,000. Finally, Harbor Investment Advisory LLC boosted its position in 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 period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup reaffirmed a "buy" rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. Barclays increased their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Truist Financial increased their price target on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Needham & Company LLC raised their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, August 28th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $332.70.

Insider Activity at Flutter Entertainment

In other news, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the sale, the insider owned 16,589 shares in the company, valued at approximately $4,724,547.20. This trade represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 in the last ninety days. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Stock Down 0.1%

NYSE:FLUT traded down $0.24 during midday trading on Thursday, reaching $290.98. 740,728 shares of the stock traded hands, compared to its average volume of 2,256,975. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The business has a 50-day moving average of $296.59 and a two-hundred day moving average of $263.74. 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 stock has a market capitalization of $51.24 billion, a PE ratio of 143.34 and a beta of 2.29.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its 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 company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment'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 analysts forecast 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 program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.