Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 4,400 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund sold 10.4% of its shares in Flutter Entertainment PLC, reducing their holdings to 37,844 shares valued at $8.38 million.
• Analysts have raised price targets for Flutter Entertainment, with UBS Group setting a new target of $360.00, while the consensus price target is now $328.62.
• Flutter Entertainment reported strong quarterly earnings, beating estimates with $2.95 EPS and revenues of $4.19 billion, up 16.0% from the previous year.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,844 shares of the company's stock after selling 4,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Flutter Entertainment were worth $8,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PARUS FINANCE UK Ltd grew its holdings in shares of Flutter Entertainment by 1.5% during the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company's stock worth $742,000 after acquiring an additional 50 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company's stock worth $407,000 after acquiring an additional 53 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC grew its holdings in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew 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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Needham & Company LLC upped their price target on Flutter Entertainment from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. BTIG Research cut their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Peel Hunt downgraded Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group assumed coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given 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 $328.62.

Flutter Entertainment Stock Up 1.2%

FLUT stock traded up $3.5480 during midday trading on Wednesday, hitting $294.3080. The company's stock had a trading volume of 1,369,617 shares, compared to its average volume of 2,208,438. The company has a market cap of $51.83 billion, a PE ratio of 144.98, a P/E/G ratio of 1.21 and a beta of 2.31. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68. 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 firm's 50-day moving average is $289.14 and its 200-day moving average is $261.62.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment's revenue for the quarter 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 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, 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 directly owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly 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 disclosure for this sale can be found here. Insiders sold a total of 19,642 shares of company stock worth $5,490,473 in the last three months. Corporate insiders own 0.09% of the company's stock.

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.