Freedom Investment Management Inc. purchased a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,331 shares of the company's stock, valued at approximately $517,000.
A number of other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in Flutter Entertainment by 21.7% during the 4th quarter. NewEdge Advisors LLC now owns 1,358 shares of the company's stock worth $352,000 after acquiring an additional 242 shares during the period. MML Investors Services LLC boosted its position in Flutter Entertainment by 101.0% during the 4th quarter. MML Investors Services LLC now owns 7,140 shares of the company's stock worth $1,845,000 after acquiring an additional 3,588 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $36,000. Tower Research Capital LLC TRC purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $33,000. Finally, Stifel Financial Corp purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $1,401,000.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Oppenheimer lifted their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Zacks Research upgraded Flutter Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Canaccord Genuity Group raised their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One equities research 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 company. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $332.70.
Read Our Latest Report on Flutter Entertainment
Flutter Entertainment Price Performance
NYSE FLUT traded down $0.87 on Friday, reaching $307.73. The company's stock had a trading volume of 1,282,229 shares, compared to its average volume of 1,970,213. The firm has a market cap of $54.19 billion, a PE ratio of 151.59, a price-to-earnings-growth ratio of 1.49 and a beta of 2.31. The business has a 50-day moving average price of $293.72 and a 200 day moving average price of $263.25. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week 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.
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 for the quarter, beating the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $4.19 billion for the quarter, compared to analyst estimates 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. Sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.
Flutter Entertainment declared that its Board of Directors has approved a share buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Insider Buying and Selling at Flutter Entertainment
In other news, CEO Amy Howe sold 4,097 shares of the stock in a transaction on 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 sale, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Philip Bishop sold 1,904 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the sale, the insider directly owned 4,712 shares in the company, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,851 shares of company stock worth $7,361,377 over the last 90 days. Company insiders own 0.09% of the company's stock.
Flutter Entertainment Profile
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Free Report)
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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