1,273 Shares in Flutter Entertainment PLC $FLUT Bought by Fulton Bank N.A.

Key Points

• Fulton Bank N.A. has acquired a new position in Flutter Entertainment PLC, purchasing 1,273 shares valued at approximately $364,000.
• Flutter Entertainment recently reported earnings of $2.95 EPS, surpassing analysts' expectations, with revenue of $4.19 billion for the quarter.
• The company's board has authorized a $245 million share buyback program, indicating a belief that the stock is undervalued.

Fulton Bank N.A. acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,273 shares of the company's stock, valued at approximately $364,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Flutter Entertainment by 196.5% during the first quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock worth $441,916,000 after acquiring an additional 1,322,016 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Flutter Entertainment during the first quarter worth $289,627,000. Primecap Management Co. CA purchased a new stake in shares of Flutter Entertainment during the first quarter worth $210,940,000. Alliancebernstein L.P. lifted its position in shares of Flutter Entertainment by 2,312.7% during the first quarter. Alliancebernstein L.P. now owns 844,855 shares of the company's stock worth $187,178,000 after acquiring an additional 809,838 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Flutter Entertainment by 376.4% during the first quarter. Hsbc Holdings PLC now owns 855,552 shares of the company's stock worth $187,304,000 after acquiring an additional 675,949 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLUT. UBS Group restated a "buy" rating and set a $360.00 target price (up previously from $340.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Stifel Nicolaus increased their target price on Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Barclays increased their target price on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Citigroup restated a "buy" rating on shares of Flutter Entertainment in a research report on Thursday, August 14th. Finally, Peel Hunt downgraded Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Trading Up 0.4%

Shares of NYSE FLUT traded up $1.07 during trading hours on Tuesday, hitting $286.39. The company's stock had a trading volume of 587,001 shares, compared to its average volume of 2,228,735. 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 cap of $50.43 billion, a price-to-earnings ratio of 141.11 and a beta of 2.30. 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 simple moving average of $296.17 and a 200-day simple moving average of $264.60.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.06 billion. 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, analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a share repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction dated 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 directly owned 31,944 shares in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Philip Bishop sold 1,904 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is currently owned by corporate insiders.

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.