Game Plan Financial Advisors LLC Buys 3,500 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Game Plan Financial Advisors LLC increased its stake in Flutter Entertainment PLC by 538.5% during the first quarter, owning 4,150 shares valued at approximately $919,000.
• Flutter Entertainment reported earnings per share (EPS) of $2.95 for the last quarter, significantly surpassing analysts' expectations of $2.08, with revenue reaching $4.19 billion.
• The company has initiated a $245 million share repurchase plan, indicating that its board believes the shares may be undervalued.

Game Plan Financial Advisors LLC boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 538.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,150 shares of the company's stock after purchasing an additional 3,500 shares during the period. Game Plan Financial Advisors LLC's holdings in Flutter Entertainment were worth $919,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, insider James Philip Bishop sold 1,904 shares of the firm's stock in a transaction 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 sale, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the business's 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 transaction, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. This trade represents 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 valued at $6,759,745 over the last ninety days. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on FLUT. JMP Securities increased their target price on shares of Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. Peel Hunt downgraded Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Barclays increased their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Zacks Research raised shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus price target of $332.70.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT traded up $1.08 during trading on Thursday, reaching $292.30. The stock had a trading volume of 1,228,459 shares, compared to its average volume of 1,502,968. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68. The firm has a market capitalization of $51.47 billion, a price-to-earnings ratio of 143.99 and a beta of 2.29. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $296.90 and a two-hundred day simple moving average of $263.90.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The business's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.